Progressive Building Society has said it’s considering refurbishment of all 11 of its branches in Northern Ireland.
And it said it’s already embarked on a £1.5m upgrade of its branch on Conway Square in Newtownards.
A total of one-third of its branches are to be overhauled by the end of next year.
The business, NI’s only home-grown building society, will operate from High Street in Newtownards until the work on Conway Square is finished in around three months.
Kevin Flannery, regional manager at Progressive, said: “Our branch network is a very important part of how we serve our customers, whether we’re talking about routine cash and cheque transactions or engaging with them in more detailed conversations about loans, mortgages and pensions.
“We continually invest in our branch network, with refurbishments this year and next offering further proof of our commitment to local customers.”
Lyn Crawford, branch manager at Newtownards, said colleagues and customers were looking forward to seeing the improvements. “The refurbishment will ensure a larger customer area with modern lighting and facilities.”
In its annual report and accounts for 2023, the building society reported profit after tax of £11.8m, which was up from £7.9m the year before. Profit before tax was £15.6m, up from £9.2m.
Summing up the year’s performance for members, chairman Keith Jess said: “2023 proved a challenging year on many fronts… but I am pleased to report that your society has performed exceptionally well.”
He said that the year’s challenges had included the impact of the base interest rate increasing to 5.25%, the highest for 15 years, while high inflation had led to a cost of living crisis for consumers.
In addition, there had been a tight labour market, along with continued demand and supply imbalances in the housing market in Northern Ireland.
And there had been changes in leadership at the top of the society, with Michael Boyd appointed to succeed Darina Armstrong as chief executive after her 13 years in the post.
Mr Jess paid tribute to Ms Armstrong’s leadership over her tenure.