A LANDMARK in trading has been secured by an historic financial institution.

Marsden Building Society, based in Nelson, has passed the half a billion pound mark, according to figures for 2018.

The assets of the 159-year-old company increased by eight per cent to £514million.

Rob Pheasey, chief executive, said: "It has been another busy and successful year, a year of growth, a year of investment and a year of making the society stronger. I am immensely proud of what the Marsden team has achieved.

"Together we've delivered a strong year of performance, both financially and with the organisational capability to support our future services."

He has put their success, over the preceding 12 months, down to the introduction of more lending options to the market, which has been a growth in their mortgage volumers of 9.7 per cent to £417.8million, which has helped 1,232 customers to buy their own places.

The society has also provided facilities for 1,818 customers' savings, which has seen their share balances rise by 12.3 per cent to £433million.

Mr Pheasey added: "This year will be an equally busy period for the Marsden, with our continued success dependent upon the commitment and enthusiasm we bring as a team."

The firm has a network of East Lancashire branches.