Leeds Building Society said on Friday its savings balances grew to £26.1 billion in 2025, with new mortgage lending growth totalling £5 billion (2024: £5.7 billion) — as the mutual reached the milestone of one million members.

Leeds said it generated the equivalent of £225.6 million in extra interest for its members in 2025 due to paying 0.90% above the market average on savings rates.

The building society has undergone several major changes in its senior executive team in the past year.

“As the UK’s fifth largest building society, Leeds is committed to providing members with innovative products and a great experience,” said the mutual.

“Through investment in a multi-year technology upgrade, the Society is creating systems for the future and by the end of 2025 had proven both savings and mortgage journeys on its new technology platform. Development will continue into 2026, as the Society progresses work on a mobile app and continues to strengthen the integration between online and in‑branch services, allowing members to manage their money however suits them best.

“The Society delivered a profit before tax of £198.6 million in 2025 (2024: underlying profit before tax £187.5 million), supported by robust growth in mortgage lending and a strong increase in savings balances, alongside continued investment to deliver long-term benefits for members.

“At a time when many providers are scaling back face-to-face support, Leeds Building Society continues to invest in modernising its branch network, completing refurbishments in Harrogate, Halifax, North Shields, and relocating its South Shields branch in 2025. Members value branch services highly, particularly access to savings passbooks which the Society has committed to keeping.”

Annette Barnes, Interim Chief Executive Officer of Leeds Building Society, said: “Our performance in 2025 shows that our Society is both financially strong and is moving confidently into the future. Over the past year we’ve made significant progress in upgrading our technology, including testing our first savings accounts and mortgage applications on our new system.

“We’re committed to providing our members with innovative products and the long-term support they need: faster and more intuitive digital experiences, alongside the personal, human interaction that remains so important to many. Development of our mobile app is also underway and is a key priority in 2026.

“We remain steadfast in delivering on our purpose of putting homeownership within reach of more people, generation after generation. Helping people buy their first home is one of the most important roles we play as a mutual, and we’re proud that nearly half of our new mortgages in 2025 supported first time buyers.”