Ipswich Building Society held its Annual General Meeting on Wednesday 28th March where it celebrated a successful year combining community activities with a strong financial performance. The evening featured an informative presentation courtesy of Suffolk Explorer Henry Adams, who completed a 66 day trek to the South Pole.
Members were welcomed to the event (which took place at Trinity Park) by Mark Sargeantson, Chairman, Ipswich Building Society. During his presentation, he commended the Society for their ‘fighting spirit’ during a fragile and challenging economic climate which has seen the Ipswich produce excellent financial results over the past twelve months.
Mr Sargeantson also took the opportunity to praise the Society for their ongoing community efforts and singled out their support of the EACH Treehouse Appeal and the ‘Ipswich United’ fundraising campaign which raised funds for those affected by the damaging floods in Ipswich, Australia last year.
Community focus played a big role within the AGM and Chief Executive Paul Winter commented: “A local building society has a responsibility to its local community. If we expect support from that community we have to ensure that we are putting something back of value. Being active in our local community is at the heart of all that we do.”
The highlights of the Society’s strong performance for the 12 months to 30 November 2010 are as follows:
Financial highlights
-
Total assets grew from £501m to £517m, an increase of 3%.
- Mortgage balances grew by 9% to reach £398m. The Society’s growth is against a UK wide mortgage growth of less than 1% and the Ipswich has supported local homeowners through a range of initiatives including a new 95% mortgage and the Suffolk HOLD scheme which has enabled those with learning disabilities to own their own homes.
- Savings balances reached £480m, an increase of 4%. The Society is now 98% funded by retail savings.
Branch network, community and employee involvement
- The Society’s branch network has enabled it to stand out from the crowd and establish itself at the heart of the local community. Branch activities which have taken place over the last year include a celebratory tea party in honour of the Royal Wedding, coffee mornings and charitable book sales.
- In the past 12 months £15,000 of financial support was provided to local charity and community organisations such as St Elizabeth Hospice, Suffolk Wildlife Trust and Cancer Campaign in Suffolk.
- Commitment to the community continued to be an essential ingredient in the Society’s success and employees donated over 344 hours through a staff volunteering scheme.
- The Society continued to show their support for financial education through an ongoing programme of ‘Money Days’ for Suffolk Primary Schools. Over 40 days were hosted at local schools across the county, reaching over 1,000 young children.
- Award Winning. The Society was awarded the “Community Involvement” prize at the Anglian Business Awards 2011.
TOTAL VOTES CAST
|
RESOLUTIONS |
FOR | AGAINST | ABSTAIN | SPOILT | TOTAL | FOR % |
|
1.To receive the Report of the Directors, Annual Accounts and Auditors’ Report |
4073 |
55 | 49 | 2 | 4179 | 98.67 |
|
2.To approve the Directors' Remuneration Report |
3619 | 434 | 122 | 3 | 4178 | 89.29 |
|
3.To re-appoint KPMG Audit Plc as Auditors |
3959 | 154 | 64 | 2 | 4179 | 96.26 |
|
TO ELECT AND RE-ELECT THE SOCIETY’S DIRECTORS:- |
||||||
|
4.a) to elect Alan Harris |
3932 |
182 |
63 | 2 | 4179 | 95.58 |
|
4.b) to re-elect Mark Justin Sargeantson |
3929 | 198 | 49 | 3 | 4179 | 95.20 |
|
4.c) to re-elect Charles Basil Tilley |
3918 | 200 | 59 | 2 | 4179 | 95.14 |
Chairman's Speech: Click to read or listen Part 1 and Part 2
Chief Executive's speech: Click to read or listen
Click to read a copy of the questions raised by our members and our Boards' responses
Click to listen to Henry Adam's talk Part 1 and Part 2
Thank you to all our members who voted or attended our Annual General Meeting
