Tag Archives: Prostate Cymru

Business, FInance, News, Swansea, Wales

Swansea Building Society celebrates record results, launches new app and donates to Prostate Cymru at AGM

On the back of posting yet another set of record-breaking results, Swansea Building Society held its annual general meeting (AGM) at the Swansea.com Stadium yesterday (Thursday, April 24). The Society also presented a substantial cheque to its new official partner charity, Prostate Cymru, donating more than a pound for every vote received.

At the well-attended event, the board of the Society presented and explained its best-ever financial performance to members. These results reflected the Society’s continued focus on supporting local communities through its growing network of branches across South Wales, alongside the benefits of an ongoing investment programme that began in 2015.

The AGM also marked the beginning of the Society’s new charity partnership with Prostate Cymru. A cheque for £2000 was presented to the charity on the day, reflecting the Society’s pledge to donate a pound for each member vote received.

In addition to reviewing its financial performance, the Society announced the successful launch of its brand-new mobile app and online service, which now allows customers to open a savings account and manage their finances at their convenience. This development was highlighted as an enhancement — rather than a replacement — of the Society’s highly valued face-to-face service through its local branch network.

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

“We were delighted to report another record set of results and to celebrate them in the company of our members at this year’s AGM. Our record asset growth, supported by strong profitability, has further strengthened our foundations for sustainable future growth.

“Alongside our financial achievements, we have continued to invest in the Society to ensure it remains modern, relevant, and accessible. The launch of our new app and online savings service is a key part of this — giving members the convenience of managing their money in the way that suits them best.

“That said, we remain absolutely passionate about our objective of opening and not closing branches, preserving personal, face-to-face service for those who prefer it. The app is designed to complement this, not replace it.

“Our continued growth and high levels of customer satisfaction reflect the care and dedication of our team, and I am proud of the positive difference we continue to make to our members and our local communities.”

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

For the year to December 31, 2024, total assets and savings both grew by 14%, while mortgages grew by 11%. Total assets increased by £86.7m to £693.7 million and savings balances increased by £81.8 million to £647.3 million, while mortgage balances grew by £52.3million to £530.1 million, driven by gross mortgage completions of £111.0 million.

The Society’s growth was supported by record profits before tax of £6.3 million, beating the previous record of £6.2 million achieved in 2023. This increased the Society’s capital reserves by 12% to £44.5 million. This is vitally important, as it provides greater reserves to support members achieve their financial goals.

The 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, Charity & CSR, Finance News, News from Wales

Swansea Building Society names Prostate Cymru as 2025 charity partner

Swansea Building Society has revealed Prostate Cymru as its chosen charity of the year for 2025. Through various events and initiatives, the Society aims to raise £25,000 to support the charity’s essential work in raising awareness and improving outcomes for those affected by prostate cancer.

One of the reasons Prostate Cymru was chosen as the Society’s charity of the year is due to its personal significance to the organisation. In April 2024, Martin Lewis, the Society’s Area Manager for England, along with the husband of one of the Society’s cashiers, were both diagnosed with prostate cancer after attending a Prostate Cymru test day held in conjunction with Swansea City Football Club. Neither had experienced any prior symptoms.

Mr Lewis, who is currently undergoing treatment while continuing to work, has shared his story to highlight the importance of early detection. “Attending the Prostate Cymru test day was possibly one of the most important decisions of my life – though I didn’t know it at the time,” he explained. “Like many men, I had no symptoms and wouldn’t have thought to get tested. I urge others not to wait for symptoms – getting tested could make all the difference.”

Through the partnership, Swansea Building Society aims to support the charity’s plans to extend the PSA blood test days across South Wales, ensuring more individuals have access to potentially life-saving early detection.

As part of its fundraising efforts during 2025, the Society aims to field teams in the Swansea Half Marathon and the Ray Murray Golf Day. The Society will also proudly sponsor the Blue Tie Ball, hosted by Prostate Cymru at the Vale Resort on February 14, 2025. Additional fundraising events will be held throughout the year to support the charity’s initiatives, which focus on raising awareness, funding research, and delivering the PSA blood test events across Wales.

Alun Williams, Chief Executive of Swansea Building Society, said: “Prostate Cymru’s work resonates deeply with us as an organisation, especially following the experiences of our colleague Martin and a family member of one of our team. This partnership represents our commitment to supporting the health and wellbeing of our communities. By raising funds and awareness, we hope to help more individuals detect and treat this disease early, while also contributing to the incredible work Prostate Cymru does across Wales.”

Prostate Cymru is dedicated to improving awareness of prostate health and ensuring men have access to vital testing and support. Swansea Building Society, which has a renowned reputation for supporting numerous local charities and initiatives, will work closely with the charity throughout 2025 to make a lasting impact on the communities it serves.