Member Article

Wakefield’s Kingston Unity reports strong growth for 3 years in a row

Yorkshire Friendly Society Kingston Unity has reported strong growth for the third consecutive year.

The Wakefield-based Society’s financial results for 2013 show a rise in premium income from £1.8 million in 2011 to £10.6 million in 2013 and saw increases in both premium income and assets during 2013.

Kingston Unity’s assets have also seen a significant increase, from £51.6 million in 2011 to £79.49 million in 2013.

The organisation does not have shareholders and any surplus is re-invested for the benefit of members.

Andrew Townsley, chief executive of Kingston Unity, commented: “We aim to produce returns and benefits for members that outperform cash savings and are consistent and stable over the medium to long term.

“More people are now moving away from instant access options for their savings, which generally offer woefully low rates, and are instead seeing the benefits of taking a more long term approach.

“With a range that is dedicated to offering returns over the medium and long term we have very much benefited from this change in attitudes.

“Our strong reputation for offering both savings growth and security stretches back to 1840.”

“We are concentrating our marketing efforts on Yorkshire with the aim of raising awareness and encouraging people across all income levels to start planning to achieve their own financial objectives.”

“We anticipate that 2014 will be another very successful year for the Society and, most importantly, its members.”

Kingston Unity plans to invest in marketing in order to raise its profile, particularly in the Yorkshire region.

This was posted in Bdaily's Members' News section by Clare Burnett .