Cumberland steps up investment and commits to ‘kinder banking’’

The Cumberland Building Society is embarking on major investment as it promises to offer banking services that are “kinder to people and planet”. The pledge comes in the society’s annual report, published today, which underlines its position as the region’s leading mortgage and savings provider. Savers’ deposits grew by £100m to £2.4bn in the year to March while mortgage lending hit a record £2.2bn as the Cumberland provided loans to over 500 first-time buyers. Profits before tax fell from £10.5m to £8.6m, mainly because of increased investment in its Cumberland…

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