Tag Archives: Lucia Osmond

Charity, FInance, Finance News

Swansea Building Society Reports Record Results, Presents Major Donation to Maggie’s at AGM

At the annual general meeting (AGM) hosted at the Swansea.com Stadium on Thursday, April 25, Swansea Building Society unveiled outstanding financial results for the year. Additionally, the Society showcased its dedication to community support by presenting a significant donation to Maggie’s, amounting to more than a pound per vote received.

At the well-attended event the board of the Society presented and explained its best-ever set of results to members as it benefitted from supporting local communities from its growing network of local branches across South Wales while reaping the rewards of an investment programme it started in 2015.

The Society was thanked by a representative from cancer charity Maggie’s, which received almost £20,000 of donations from the Building Society last year. This figure was topped by a further donation of £2,000 rounded up based on the almost 1900 votes it received from members, the highest number of votes ever submitted.

Alun Williams, Chief Executive of Swansea Building Society, said:

“As we reflect on the past year, I am pleased to announce that Swansea Building Society has achieved an unprecedented level of success, despite navigating through turbulent market conditions. Our steadfast commitment to serving the needs of both borrowers and savers amidst a challenging backdrop of cost-of-living crises, fluctuating house prices, and rising interest rates fills me with immense pride.

“Furthermore, throughout our centenary year, the dedication and care exhibited by my colleagues surpassed all expectations, reaffirming our unwavering commitment to our members. Central to our mission is our dedication to social responsibility and community impact. Beyond our core products and services, we have been proud to contribute our time, skills, and resources to support local initiatives. In commemoration of our milestone anniversary last year, we proudly donated an additional £100k to local charities alongside our ongoing support for Maggie’s, our official charity partner.

“Looking ahead, Swansea Building Society is poised to navigate the complexities of today’s economic landscape with confidence. Our strategic focus on digital transformation underscores our commitment to adaptability and innovation, ensuring our members experience continual enhancements in our products and services. The sustained growth and profitability we’ve experienced in recent years will enable us to make strategic investments that benefit both our current and future members.”

Lucia Osmond, Centre Fundraising Manager, Maggie’s, said:

“We extend a massive thanks to Swansea Building Society and are so grateful that the Society has extended its support of our charity for a third year. Our centres now cover the whole of Wales, but we cannot do what we do without this kind of support. So, thanks again to the Society team and its members for their continuing generosity.”

The Society achieved double digit growth in its total assets, mortgages, savings and capital last year despite the difficult economic environment.

For the year to December 31, 2023, total assets grew by 15% driven by mortgages and savings growth of 16% and 15% respectively. Total assets increased by £77.2 million to £607 million, savings balances increased by £72.6 million to £565.5 million, while mortgage balances grew by £66.9 million to £477.8 million. The Society’s mortgage growth was driven by gross mortgage completions of £120.1 million, another record, beating the previous highest set in 2021.

The Society’s growth was supported by record profits before tax of £6.2 million, beating the previous record of £5.4 million achieved in 2022. This increased the Society’s capital reserves to £39.8 million. This is vitally important to the Society, as it provides greater reserves to support members achieve their financial goals.

Swansea Building Society remains one of the few financial institutions in the UK that receives no wholesale funding or support from the Bank of England in the form of cheap funding. Its balance sheet is funded entirely by customer savings balances and its own capital reserves built up from retained profits over many years.

Business News, Charity News

Swansea Building Society Continues Commitment to Maggie’s Swansea 

In a noteworthy announcement, Swansea Building Society has confirmed the continuation of its ongoing partnership with Maggie’s Swansea for the third consecutive year. The decision, met with resounding endorsement from the Society’s staff, emphasises their steadfast dedication to supporting the essential services provided by Maggie’s Swansea. 

Over the past two years, Swansea Building Society has exemplified its commitment through a diverse array of successful fundraising activities. From dress-down days and customer refreshment services to raffles, sponsored dog walks, open water swimming, and participation in the Swansea Half Marathon, these initiatives have collectively raised an impressive cumulative total exceeding £60,000. 

The Society was also the headline sponsor of Maggie’s annual ball two years running, as well as its highly successful inaugural Christmas Extravaganza, held in December 2023.

This substantial financial support has played a crucial role in empowering Maggie’s Swansea to deliver its essential services and support to those navigating the challenges of cancer.

Located at Singleton Hospital, Maggie’s Swansea provides free practical, emotional, and social support to people with cancer, as well as their families and friends. The centre works in collaboration with conventional cancer therapies, offering a caring environment to provide support, information, and practical advice. This includes financial and benefits advice, support with treatment decisions, and access to other cancer services. In addition, Maggie’s Swansea also provides nutrition workshops, complementary therapies, and other services.

Building on its successful fundraising over the last two years, Swansea Building Society is determined to continue to raise as much as possible in its last year supporting Maggie’s and make an even greater impact in the lives of those dealing with cancer during 2024.

It has many fundraising events already in the calendar, including a mutt strutt (sponsored dog walk), dip a day, Swansea half marathon, Long Course triathlon, cycling the length of Wales, and climbing the Welsh three peaks challenge. The Society will also be sponsoring Maggie’s Annual Ball in October and it’s second Christmas Extravaganza in December.

Alun Williams, Chief Executive Officer of Swansea Building Society, said:

“Our commitment to supporting local communities is at the heart of everything we do. We are delighted to continue our support for Maggie’s Swansea and look forward to making a positive difference to those who need it most.”

Lucia Osmond, Centre Fundraising Manager at Maggie’s Swansea, added:

“We are extremely thankful to Swansea Building Society for choosing Maggie’s Swansea as its official staff charity for the third consecutive year. The support of the Society and its staff means so much to us, and we have been inspired by their generosity and commitment to our cause.”

As the collaboration enters its third year, Swansea Building Society and Maggie’s Swansea anticipate another successful partnership, making a lasting impact on the lives of those affected by cancer.