SILSDEN-based Ecology Building Society has announced record assets.

Its total for last year reached £178.7 million, more than £5.5m up on 2016.

The society loaned over £28.2m for sustainable properties and projects during the year.

Of the mortgages, 78 per cent were advanced on residential properties – including new builds, renovations and shared ownership – and the remainder on community-led housing and non-residential, such as sustainable businesses.

Savings balances grew from £163.1m in 2016 to £167.8m, while there was a slight drop in profits – by £5,000, to £915,000.

Chief executive, Paul Ellis, said the results maintained more than three decades of "uninterrupted" profitability for the society.

He added: "Recent initiatives – such as the report of the Government's Green Finance Taskforce – are positive signs of a growing interest in Ecology's sustainable lending model, demonstrating how finance can support the transition to a low-carbon economy.

"We've been providing sustainable mortgages for more than 30 years, offering innovative discounts that incentivise the most energy-efficient projects and properties. Our continued growth and success shows that finance which benefits both people and planet can be profitable.

"As well as supporting more and more people to renovate their homes to a high environmental standard, I'm particularly pleased that we have increased our lending for community-led housing solutions which are helping to tackle the housing and affordability crisis.

"We have a strong pipeline of lending opportunities which will enable us to continue to grow our mortgage book this year while maintaining our commitment to our core principles of sustainability."

Since he was appointed chief executive in 1995, Mr Ellis – who last year celebrated 25 years with the society – has overseen an increase in assets of more than £150m.