Ecology Building Society raises £7.1m to drive growth strategy
Ecology Building Society has successfully completed its second Core Capital Deferred Shares (CCDS) issue, raising £7.1m from professional investors including West Yorkshire Pension Fund and family offices. The green building society offered an 11% annual distribution rate and became the first UK building society to list CCDS on The International Stock Exchange earlier this year.
The capital will fund the completion of Ecology's digital transformation, including a new mobile app and core banking platform designed to double mortgage lending capacity. CEO Gareth Griffiths emphasised the funding's multiplier effect, noting that every £1m raised enables £22m in lending for community-led housing and green renovation projects. Combined with Ecology's 2020 CCDS issue of £3m, the mutual has grown its balance sheet by over £110m (49%) in five years, positioning it to capitalise on expanding sustainable finance opportunities.