Our year end results for 2009 demonstrate a good performance against a tough economic background.
A focus on cost control and improved efficiencies to meet the uncertainties of the economic climate of the past 12 months has proved a successful strategy. We are committed to growing your Society and 2009 saw a rise in customer numbers and in assets under management.
2009 was the twelfth consecutive year of net customer growth for Engage Mutual, with total customer numbers increasing by 2.4% to 438,000 and 15% of new customers of the Engage Mutual brand being introduced by existing customers. Other highlights for the year included:
- group assets under management increased by more than 5% to £624 million
- fund for future appropriations increased by £1.2m in the year
- more than £47 million was paid to customers in claims and maturing savings plans
More than 70% of new customers chose to come to us via the internet or over the telephone, and we will be launching our new website in the coming weeks. With the new website will come a platform for increased information, interactivity and feedback. In addition to this, the first phase of online servicing for life and savings customers is already being used by more than 2,700 customers and we will continue to develop this during 2010.
Our mutual status remains central to what we do and we aim to continually deliver what our customers need, in a way that is most appropriate for them, and we also invite their involvement in the development and direction of the organisation. We remain committed to giving something back to our local, and wider, community and a range of initiatives, from promoting money sense amongst the young, to continuing support for our neighbours at Saint Michael’s hospice in 2009 has kept our focus on this pledge.
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