Furness Building Society.
About Furness Building Society.
Established in 1865, the Furness is a mutual
independent building society. The Society has two wholly owned subsidiary
companies which help to generate income for the benefit of members. These are
Furness Mortgage Services Ltd and Furness Independent Financial Advisers.
Furness is a member of the building societies association.
Furness Building Society Information.
Head Office – Furness Building Society, 51-55 Duke
Street, Barrow-in-Furness, Cumbria, LA14 1RT. Tel: 01229 824560
Branch Offices –
84 Market Street,
Dalton-in-Furness, Cumbria, LA15 8DJ
216-218 Dalton Road,
Barrow-in-Furness, Cumbria, LA14 1PN
9 Lowther Gardens,
Grange-over-Sands, Cumbria, LA11 7EX
20 New Market Street,
Ulverston, Cumbria, LA12 7LN
6 Market Square, Millom,
Cumbria, LA18 4HZ
10 Knowsley Street, Bolton,
Greater Manchester, BL1 2AH
9 Queens Square,
Poulton-le-Fylde, Lancashire, FY6 7BW
8 Lune Street, Preston,
Lancashire, PR1 2YX
2 Lancaster Gate, Lancaster,
Lancashire, LA1 1NB
18 Castle Street, Liverpool,
Merseyside, L2 0NL
Building Society Products
Savings Accounts – Savings Accounts include Tax Free
Cash ISA’s, Fixed Rate Bonds, Notice Accounts, Savings Accounts for Children,
Regular/Monthly Savings, Affinity Accounts and Instant Access Savings Accounts.
Mortgage Accounts -Tracker Mortgages, Fixed Rate
Mortgages, Self Build Mortgages, Discount Mortgages and Buy to Let Mortgages.
Insurance – Buildings & Home Contents Insurance, Travel Insurance and Life Protection Insurance.
Others – N/A.
Financial Results Year Ended 31/12/2011
In 2011, the Group generated profits after tax of £1.61m The Society completed £103m of mortgages, improving on their 2010 result of £96m. At the end of the year, there were 19 cases (2010: 16) where repayments were 12 months or more in arrear. The total amount of arrears on these cases was £99,423 (2010: £155,900). Balances on accounts 12 months or more in arrear totalled £1,113,590 (2010: £888,026). At 31 December 2011 the Group’s total provisions represented 0.41% of total mortgage assets (2010: 0.29%). They only repossessed 4 properties during 2011.
A charge of £254,254 (2010: £277,691) was recognised in the Society’s 2011 accounts relating to the FSCS levy. Financial Results Year Ended 31/12/2010
For the year the they made a profit after tax of
£1,759,000 (£1,157,000).
Mortgage Lending – The Society’s mortgage lending in
2010 increased to over £96m which represents a 20% increase over the previous
year. At the end of the year, there were 16 cases (2009: 11) where repayments
were 12 months or more in arrear. The total amount of arrears on these cases
was £155,900 (2009: £145,831). Balances on accounts 12 months or more in arrear
totalled £888,026 (2009: £872,750). At 31 December 2010 the Group’s total
provisions represented 0.29% of total mortgage assets (2009: 0.23%).
Savings – The Society’s retail share and deposit
balances decreased by £12.6m (2009: £22.3m decrease) reflecting the Society’s
balanced approach to interest rate management. The Society reduced its
wholesale borrowings from the money markets from £70.4m at the beginning of
2010 to £49.2m at 31 December 2010.
Furness Building Society Directors
Executive Directors –
N A Quinton (appointed 17.10.11) R J Cairns (retired 31.10.11), S L Pryer and B P Ryninks. Non Executive Directors – A C Willis (Chairman – retired 18.4.11), P R W Hensman , C S Millar C S Fairclough, A T F Hunter, P A Ireland and K S Kearney.
Membership Numbers – The Furness Building Society has 8,947 borrowing members and 98,537
investing (saving) members.
Other information – website furnessbs.co.uk | 
