A first all-female leadership duo in its 157-year history has been welcomed at the helm of Beverley Building Society.
Karen Wint has succeeded Stuart Purdy as chair following the publication of a strong set of results for 2022, with chief executive Janet Bedford having been appointed a year ago.
It comes as profits edged up 0.3 per cent to £759,000 in the past year, while mortgage lending increased 80 per cent to £35 million, from £19 million in 2021. It had been set out as a strategy for growth.
Read more: Stronger business expansion in April but region's growth lags behind much of UK
Karen was previously chair of the Beverley’s risk committee and a member of the audit and compliance committee, and brings 30 years’ experience in the mutual sector to the position. Describing herself as passionate about driving forward the organisation, she said: “I’m honoured to have been selected as chair of the Beverley’s board and proud to be part of another step forward for gender equality.
“I’d like to thank Stuart for his exceptional service and contribution, which has created a solid foundation from which to build on. I’m looking forward to working closely with Janet and the rest of the board to further strengthen our reputation as an innovative mutual, that offers great value savings and mortgage products, underpinned by outstanding service and a well-established community presence.
“The Society’s strong capital position and its willingness to embrace change feeds into an ambitious growth strategy for the Society and I’m excited to be part of this journey.”
A new addition to benefit saving members has just seen a new 45-day notice account launched, with a higher rate of return. It is said to be proving extremely popular with new and existing customers.
Ms Bedford said: “This represents a uniquely exciting time for the Society and, as well as adding my sincere thanks to Stuart for his remarkable guidance over the last few years, I’d like to congratulate Karen in achieving the position of board chair. She is a worthy successor to Stuart and an invaluable asset to the business and my hope is that our new leadership combination inspires other women in our industry to aim high.
“I’m also hugely proud that, in my first year leading the Beverley, we have worked exceptionally hard as a team to deliver such significant results in a challenging environment, but as importantly, as reinforced by our feedback, an exceptional level of customer satisfaction. I’m confident that we will continue to develop highly competitive mortgage and savings propositions and expand our presence as the building society of choice in the East Riding and beyond.”
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