In its 175th anniversary year, Scottish Building Society has grown its membership and posted a pre-tax profit of £3.3m.
The mutual now holds mortgage assets of £496m, up £42m from the previous year, and has grown its savings balances to £418m.
Total assets also now stand at £644.6m.
The building society has also bucked the trend by investing to refurbish its Troon, Inverness and Galashiels branches over the last 12 months.
It is also re-locating its Edinburgh Relationship Centre to a city centre location on Frederick Street, which is scheduled to open in June.
Paul Denton, chief executive at Scottish Building Society, said: “There can be no denying the very difficult economic climate we face, however, these results show that our values and our offering is continuing to appeal to customers.
“Our focus on providing uncomplicated saving and mortgage products in a friendly manner has built a trust with customers, many of whom have been with Scottish Building Society for decades.
“Profits are retained in the business to support future growth and to enable the society to remain modern, efficient and sustainable for the next 175 years.”
As part of the organisation’s anniversary, it is set to launch a charitable foundation that will provide an initial £175,000 of funding into invaluable community services and organisations.
Delivered in partnership with Foundation Scotland, the Scottish Building Society Foundation will benefit an array of Scottish organisations for years to come.
Denton added: “We are looking forward to officially launching the foundation in May and seek to establish a best-in-class benchmark supporting community-based organisations across Scotland.”
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