The pledge comes in its annual report, published today, which underlines its position as the region’s leading mortgage and savings provider.

Savers’ deposits grew by £100 million to £2.4 billion in the year to March while mortgage lending hit a record £2.2bn as the Cumberland provided loans to more than 500 first-time buyers.

Profits before tax fell from £10.5m to £8.6m, mainly because of increased investment in its Cumberland 2025 modernisation programme.

John Hooper, chairman, said: “Our Cumberland 2025 plan will provide new digital channels, making it easier, quicker and more convenient to engage with us and manage accounts.”

The Cumberland is based in Carlisle with 34 branches across Cumbria, southwest Scotland, Northumberland and Lancashire.

Chief executive Des Moore expects a “noticeable reduction in profits over the next few years” as the Cumberland steps up investment, cushions vulnerable customers from the rising cost of living and lives up to its new strapline: “Kinder banking. It’s in our nature.”

The society gives 1.5% of profits to charitable causes, donating £188,000 in 2021-22. This year, it has pledged to donate £2 to Samaritans for every vote at its AGM.

Looking ahead, Mr Hooper said: “The Cumberland is well placed to benefit in the medium term from the planned investment. This, coupled with the strong foundations provided by its distinctive business model, will allow the society to thrive into the future.”