Saffron Building Society reports savings increase

Saffron Building Society, the regional building society in East Anglia, has reported an increase in savings balances in August and September of this year.

The figures from the society seem to buck the trend experienced at other mutuals, as savings balances have been in decline over the same period.

According to Saffron, its ability to buck the trend is down to competitive savings interest rates and its customers desire to continue saving, even during economic uncertainty.

John Eastgate, sales & marketing director of Saffron Building Society, said that the society is delighted to be retaining and growing its savings balances in the light of wider trends.

He added that Saffron believes in offering a fair, consistent return for money invested rather than relying on attractive headline savings rates which cannot be continued.

Saffron recently launched a number of mortgages aimed specifically at local borrowers, offering £500 cashback for customers who go to the society direct, in an effort to help the local housing market
 

Moneyextra.com recommends you take independent financial advice before acting on any article

Back

2010-11-15 13:13:33 © Moneyextra.com