About Progressive Building Society
Progressive Building Society was formed in 1914 out of
the merger of five small Belfast building societies. Its growth has been
totally organic and, today, Progressive is the largest locally owned mortgage
lender and savings provider in Northern Ireland. They are members of the
building societies association and are authorised and regulated by the FSA (
Reg No 161841). They accept postal applications for Postal 7-day Notice
Account, Limited Issue Fixed Term Bonds and cash ISAs from throughout the
United Kingdom. Other products
(mortgages & savings) are only available to Northern Ireland residents.
Progressive Building Society Information
Head Office – Progressive Building Society, Progressive
House, 33 / 37 Wellington Place, Belfast BT1 6HH. Tel 028 9024 4926.
Branch Offices –
79 / 81 Wellington
Street, BALLYMENA.
6 Castle Street, BANGOR,
11 Donegall Square South,
BELFAST
17 The Diamond, COLERAINE
24 High Street,
ENNISKILLEN
323 Antrim Road,
GLENGORMLEY
3 Market Place, LISBURN
26 The Diamond, LONDONERRY
4 Conway Square,
NEWTOWNARDS
40 High Street, OMAGH
12 Market Street,
PORTADOWN
Building Society Products
Savings Accounts – Savings account include Business 90,
Cash ISA, Start Up Children's Savings Account, Investment Share, Premium
Return, Premium Saver, Premium 90, Premium 90 Monthly Income, Capital Bond,
Capital Bond Monthly Income, Fixed Rate / Term Bonds (inc Monthly Income),
Variable Rate / Fixed Term Bonds, Postal 7-day Notice Account and Postal 1 Year
Fixed Rate ISA Bond.
Mortgage Accounts - Fixed Rate Mortgages (Pay a fixed
rate for a set period of time), Variable Rate Mortgages (Pay a variable rate,
discounted from or a premium to the society's variable base rate), Tracker Rate
Mortgages (Pay a rate that tracks the Bank of England Base Rate).
Insurance – building & contents insurance and
mortgage payment protection insurance.
Others – N/A.
Financial Results Year Ended 31/12/2010
For the year they made a profit after tax of £2,227,000
(£1,051,000).
Mortgage Lending – During 2010 the Society’s new
mortgage lending amounted to £107 million. At the end of the year, loans and
advances to customers had decreased in total by 0.58% from £1,305.7 million to
£1,298.1 million. Thirty-one mortgage accounts were twelve months or more in
arrears at year end. The total amount outstanding on these accounts was £5.4
million including arrears of £377,000. There were eighteen properties in
possession at 31st December 2010. The Society continued to adopt a prudent
approach to mortgage provisioning. The provision for losses on all loans and
advances to customers at 31st December 2010 was £5.0 million (2009: £1.5
million), which represented 0.39% (2009: 0.12%) of the total mortgage book.
Savings – Society’s savings balances rose by £36.3
million to £1,484.6 million in 2010. This growth, although small, was contrary
to the trend experienced by many in the financial sector.
Progressive Building Society Directors
Executive Directors – W Webb, D Armstrong, S Towe,
Non Executive Directors – Dr J R Smyth, T H B Quin, I
Doherty, E M Gowdy, J O Hunt, D N Templeton
Membership Numbers – The Progressive Building Society has
14,412 borrowing members and 92,456 investing (saving) members.
Other information – website theprogressive.com.
