Published: 27 February 2026
Our 2025 Annual Results: another strong year and big steps forward for our members
By Annette Barnes, Interim CEO
2025 was a special year for us - our 150th anniversary - and a chance to celebrate our heritage and look to the future. I was proud to step into the Interim CEO role last June and even prouder of what we achieved together.
Supporting our first time buyers
For many people, getting onto the housing ladder can be a challenge. That’s why in 2025 we continued removing barriers, helping 17,100 first time buyers achieve the dream of home ownership.
It’s been wonderful to see our innovative approach to lending, like our Income Plus mortgages, help people who have previously thought home ownership was out of reach.
Standing up for savers
Supporting those homeowners wouldn’t be possible without our savers. We continue to offer fair value for them paying an average savings rate that is 0.90% above the rest of the market average, returning £225.6 million in extra interest to them.[1]
For online savers, we’re investing in our technology to make things simpler, including working towards introducing an app. Meanwhile, refurbishment of our branch network continues, and we’ve reaffirmed our commitment to passbooks for those who value face-to-face customer service.
Being there for communities
We continue to run a profitable and sustainable business, generating a profit before tax of £198.6 million. And we’re making a difference to the communities around us too. Last year, we awarded over £1 million to charities and community groups and surpassed our fundraising target for our charity partner Barnardo’s, ahead of schedule.
With 2026 upon us, we know the market is competitive and the economic outlook uncertain. But we’re confident. Our strong performance, committed colleagues and multi-year investment programme put us in a great position to build for the future and continue to put our members first.
Thank you to you, our members, for your continued trust and support.
Key highlights
- Reaching the milestone of one million members
- Savings balances reaching £26.1 billion (2024: £24.5 billion)
- Strong new mortgage lending growth totalling £5.0 billion (2024: £5.7 billion)
- Helping 34,600 people buy the home they want (2024: 37,200), 49% of whom were first time buyers – 17,100 in total (2024: 17,600)
- Generating the equivalent of £225.6 million in extra interest for savers paying an average savings rate that is 0.90% above the rest of the market average (2024: £175 million extra interest) [1]
- Strong asset growth in a competitive market totalling £32.0bn (2024: £31.6bn)
[1] The Society paid an average savings rate of 3.92% to our savers compared to the Rest of Market average of 3.02 %, which equates to £225.6m in extra interest for savers. Source: CACI’s CSDB, Stock, including fixed and variable rates, January 2025 to December 2025, latest data available. CACI is an independent company that provides financial benchmarking data of the retail cash savings market.
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