Darlington Building Society has reached a new milestone with total assets now exceeding £1 billion for the first time in its 169-year history.
The achievement marks another high point in a year of celebrations for the mutual, which has also commemorated 250 years since the start of the building society movement, 200 years since the world’s first passenger railway, and passed £1 million in charitable donations through its 5% Profits Pledge.
Over the past seven years, the society has grown its total assets by 64%, achieving what it describes as a healthy balance between savers and borrowers. It now serves almost 92,000 members, largely across the North East, and ranks among the UK’s top 20 building societies by asset size.
In September, Darlington launched the 1825 Railway Saver to coincide with the bicentenary of the Stockton and Darlington Railway, which opened on 27 September 1825. The savings product was designed to honour the line’s historical significance and to reflect the town’s pioneering heritage.
The society continues to be recognised for its expertise in self-build lending, supported by flexible criteria and manual underwriting.
Chief executive Andrew Craddock (pictured) said: “Size does matter. The greater the level of assets, the more interest income we can generate to cover running costs, invest in our people and communities, provide competitive products, and maintain strong reserves. This milestone enhances the society’s long-term resilience and sustainability.”
He added: “This achievement is the culmination of many years of careful, member-focused decision making. It puts us in a strong financial position for the future, and I’m incredibly proud of our colleagues and members who’ve made this possible.”
