The Building Societies Association (BSA) has appointed two deputy chairs for the first time in its history.
Susan Allen (pictured), chief executive of Yorkshire Building Society, and Caroline Domanski, chief executive of No1 CopperPot Credit Union, have taken on the roles, working alongside BSA chair, Simon Taylor, chief executive Sarah Harrison, and the wider BSA council.
Commenting on the appointments, BSA chair Simon Taylor said: “I’m delighted that Susan and Caroline have accepted the roles of deputy chair and I’m very much looking forward to working with them. Both bring a wealth of knowledge, experience and leadership skills that will be invaluable in these roles.
“The government’s ambition to double the size of the mutual and co-operative sector gives us a strong mandate to be at the forefront of change, delivering practical, innovative solutions to housing, savings and financial resilience. To make the most of this opportunity we need strong visibility, open dialogue and close collaboration with government, regulators and policymakers.
“With Susan and Caroline as deputy chairs we bring greater capacity, a broader range of skills and experience and stronger representation of our credit union members. This enhanced leadership structure will support the BSA in championing mutuals as a vital part of the UK’s financial services sector, now and into the future.”
Susan Allen commented: “This is an exciting time for the mutual sector with many opportunities ahead, alongside some real challenges. As we navigate through these changing times, there’s an increasing awareness of the importance of member-owned organisations with their clear social purpose, strong community connections, and unwavering commitment to serving their members’ needs rather than external shareholders.”
Caroline Domanski added: “We know the difference mutuals bring to their members and communities. Our member-owner structure means we can reinvest our surplus into better returns for members, a diverse range of products and keeping local branches open, rather than being hived off to external shareholders. It is great to see building societies and credit unions working together to double the sector as we support fair and inclusive growth across the UK.”
