Saffron Building Society Latest News
April 2012 - Saffron has extended its national savings range by launching a new competitive 12 Month Fixed Rate Regular Saver Cash ISA, paying 4.00% gross p.a./AER.

History and Profile of the Saffron Building Society

Head Office Saffron Building Society, Saffron House,
1A Market Street,
Saffron Walden,
Essex, CB10 1HX.
Telephone: 01799 522211

Branch Addresses
1 Ongar Road, Brentwood, Essex, CM15 9AU
2 Market Square, Bishop's Stortford, Hertfordshire, CM23 3UU
5 High Street, Colchester, Essex, CO1 1DA
32 Connaught Avenue, Frinton on Sea, Essex, CO13 9BR
31 High Street, Great Dunmow, Essex, CM6 1AB
38 High Street, Halstead, Essex, CO9 2AP
2 Queen Street, Haverhill, Suffolk, CB9 9EF
22 Market Hill. Royston, Hertfordshire, SG8 9JG
27 Bell Street, Sawbridgeworth, Hertfordshire, CM21 9AR
2 Romford Road, Stratford, London, E15 4BX
57 High Street, Ware, Hertfordshire, SG12 9AD 

Saffron Building Society Directors' Remuneration year ended 31/12/2011
Name
Salary
Bonus
Benefits
Pension and Life Contributions
Totals
A.J.Golding
187,000
55,000
17,000
25,000
284,000
J.E.Hall
143,000
21,000
16,000
19,000
199,000
A.Rushworth
129,000
43,000
13,000
8,000
193,000*
J.P.Eastgate
93,000

12,000

11,000
13,000
129,000
Non Executive Directors
         
Saffron had 5 during the year
126,000
     
126,000
Totals
       
931,000

* Also received £30,000 for loss of office.

Saffron Building Society Range of Products
Saffron Building Society offers a range of savings accounts including tax free ISAs, fixed rate bonds and easy access savings accounts, mortgages and insurance products including motor, travel, commercial and home insurance.


 Financial Results Year Ended 31st December 2011
Profit after tax for the year of £1,354,000 as against £832,000 the year before. £160 million of new mortgage loans were completed and arrears where accounts were 3 months or more in arrears at the year end was only 0.35% as against the industry average of 2.05%. £587,000 was set aside for bad debts and £618,000 was paid to the FSCS Levy.

Saffron Building Society Financial Results year ended 31st December 2010
Saffron building society made a profit after tax of £832,000 as against £1,682,000 the year before.

£191,000 was charged as a provision against bad debts.

During the year there was £144 million of new mortgage loans and accounts with mortgages 3 months or more in arrears was 0.39%, 30,000 new savings accounts were opened resutling in an increase in retail savings balances of 15.2% and they now have 3,000 home and car insurance customers.

Saffron Building Society Financial Results year ended 31st December 2009
Saffron building society made a profit after tax of £1,682,000 as against £890,000 the year before.

£558,000 was charged as a provision against bad debts.

0.57% of the mortgage book was 3 months or more in arrears

The average loan to value of the mortgage book was 69% (68% 2008)

As at the 31st December 2008  the group had 14 properties in possession.
At the year end Saffron Building society had 4 mortgage accounts over 12 months in arrears (2008 2)

Saffron Building Society Financial Results year ended 31st December 2008
Saffron building society made a profit after tax of £890,000 as against £3,085,000 the year before after paying £1,115,000 to the fscs levy.
£1,400,000 was charged as a provision against bad debts as against £300,000 the year before.As at the 31st December 2008  the group had 18 properties in possession.
At the year end Saffron Building society had retail savings balances in excess of their mortgage balances.


Saffron Building Ssociety.