Hinckley & Rugby Building Society News.

February 2012 - Hinckley & Rugby Building Society are offering a 7 day notice cash ISA offering savers 1.25%.

Hinckley & Rugby Building Society.

Hinckley and Rugby Building Society was formed in 1983 by the merger of Hinckley Permanent Building Society, which was founded in 1865 and Rugby Provident Building Society which was established in 1861. The head office address is Hinckley & Rugby  Building Society, 81 Upper Bond Street, Hinckley, Leicestershire, LE10 1DG.

They have 11 branches and 6 agencies.

They offer a number of products including

Mortgages- Tracker Mortgages, Discount Mortgages, Fee Free Mortgages, Flexible Mortgages, Offset Mortgages, Capped Rate Mortgages, Fixed Rate Mortgages, Buy to Let Mortgages and Standard Variable Rate.

Savings Accounts- Fixed Rate Accounts, Easy Access Savings Account, Notice Accounts, ISA Accounts, Savings Bonds, Over 50s Accounts, Postal Accounts, Children's Accounts and Affinity Savings Accounts.

For the year ended 30/11/2010 The Financial Results for Hinckley & Rugby Building Society were 2009 figures in (brackets)

Profit £164,000 (£280,000)

Assets £585,728,000 (£644,203,000)

Executive Directors Pay £306,000 (£384,000)

Non Executive Directors Pay £169,000 (£167,000)

What is very noticeable with the results is how much pay the directors are taking compared to the societies profits and it is unusual to have a building society where directors pay is greater than the annual profits. The results also included a 1.2 million pension credit and without this they would have shown a loss for the financial year.

During the year the Loughborough Building Society had mortgage applications net of cancellations of £48 million Management expenses as a percentage of mean total assets fell to 0.53% from 0.77% the previous year.

hinckley and rugby building society.