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Progressive Building Society was created out of the merger of 5 tiny societies and it
first opened its doors under the Progressive name in 1914. Head office address is Progressive Building Society, Progressive
House, 33-37 Wellington Place, Belfast, BT1 6HH.
Progressive
Building Society offer a number of products including
Mortgages-
Fixed Rate Mortgages, Variable Rate Mortgages and Tracker Rate Mortgages.
Savings
Accounts- Business 90, Cash ISA (Tax Free Savings Account), 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 option), Variable Rate Fixed Term Bonds and a Postal 7-day Notice Account.
Other Financial Products include building & contents insurance and mortgage payment protection insurance.
For the
year ended 31/12/2010 The Financial Results for Progressive Building Society were 2009 figures in (brackets)
Profit £2,227,000 ( £1,051,000)
Assets
£1,666,043,000 (£1,664,140,000)
Executive Directors
Pay £443,000 (£417,000)
Non Executive Directors Pay
£141,000 (£139,000)
For the year new mortgage advances
fell by 24% to £107 million. Savings balances rose by £36.3 million. £4.2 million was set aside against
bad debts and towards the end of the year an increase in mortgage accounts arrears was occurring. Loans and advances outstanding
to customers was £1,298 million.
Management expenses as
a percentage of mean total assets was 0.48%.
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