Sheffield Mutual Friendly Society has announced impressive financial results for 2016. For the first time in its 125 year history, the society has reached over £100 million assets and recorded a 34% increase in premium income.
Commenting on the results, Tony Burdin, Chief Executive, said: “It is very timely to achieve the £100 million milestone in our 125th year. Our assets were just £20 million in 2006, so it demonstrates clearly the Society’s impressive growth and development over the past decade. We expect another good year of growth in 2017, especially as the ISA allowance is increasing to £20,000 per individual for the 2017-18 tax-year.”
Sheffield Mutual was founded in 1892 and are owned by their members with no external shareholders to satisfy, meaning they can provide higher potential returns by sharing surplus profits with customers. They invest in a range of low to medium risk assets with the aim of providing higher returns than would be achieved with a bank or building society. Their philosophy is based on delivering an excellent personal experience and you can always call to speak to a friendly member of the team.
Here at Trinity, we have joined forces with Sheffield Mutual to provide exclusive offers on savings for Trinity customers. Sheffield Mutual are specialists in tax-free savings and investment policies and offer plans suitable for adults and children. You can invest for between 3 and 25 years from as little as £5 per month, and the application process is quick and easy. Plus, if you go through Trinity you’ll get a £30 Love2shop gift card!
Find out more about savings with Sheffield Mutual here