Despite the impact of the pandemic, Yorkshire-based Ecology Building Society has grown its total assets to more than £200 million.
The building society reported that, in 2020, total assets rose from £198 million to £226 million.
Moreover, savings balances were up from £185.3 million to £210.3 million.
Profit after tax was £524,000, compared to £1.07 million the previous year, with gross lending dropping from £43.5 million to £39.3 million.
The building society added to its capital base through the issuance of £3 million of Core Capital Deferred Shares to enable it further invest in innovation, accelerate its lending and amplify its voice.
Furthermore, it began 2021 with a record pipeline of sustainable lending prospects supported.
“These results mark another strong year of sustainable growth for Ecology demonstrating, more than ever, the resilience of our lending model and the importance of finance that has a positive impact for people and our planet,” said Ecology Building Society’s Chief Executive Paul Ellis.
“2021 is a special year for Ecology as we mark our 40-year anniversary of pioneering sustainable finance.
“Our members can continue to be assured that Ecology is at the heart of the drive to deliver the vital green recovery and their money is delivering a real contribution to tackle the climate and ecological crisis.
“Looking ahead our strong pipeline of lending for low impact homes and financial position gives us a firm foundation to invest in our services to our members, innovate, and grow our sustainable lending further during 2021 and beyond.”