Castle Community Bank (Castle) the credit union based in Leith, Edinburgh, has boosted its growth plans and financial inclusion ambitions by making key appointments to its Board and Executive team.
Experienced non-executive director Stephen Pearson has been appointed as Chair of the Board. Following a career in law and financial services, Stephen has also recently been appointed Chair of the newly formed Financial Inclusion For Scotland.
As Chair of Castle, Stephen will be responsible for leadership of the board, ensuring that it effectively oversees Castle as it continues to grow and support its members through the cost-of-living crisis.
Last year Castle appointed a new chief executive, Adrian Sargent, who, alongside the previous chair, Ian Irvin, has overseen a period of substantial growth to ensure its sustainability in a difficult financial climate.
In addition, on 1 October 2022 Suzanne Gush was appointed as Chief Financial Officer. Suzanne has significant financial services experience and will support the board and management team in this next phase of Castle’s growth.
Stephen Pearson said: “The current cost-of-living-crisis and challenging UK financial climate, illustrate how important it is that all communities have access to fair savings and loan products as well as financial education.
“I’m looking forward to helping Castle and its partners make a positive difference in north Edinburgh and beyond, at such a key time for the organisation.”
Adrian Sargent said: “Stephen will be a great asset for Castle as we continue growing. Being fintech enabled, Castle is now well placed to help its members from a position of increasing strength. With Stephen’s fresh perspective and ethical fintech-savvy, Castle can find new ways of supporting our members.
“At Castle we are about sustainability for both the organisation and the community, and we are passionate about working hard for our communities. I’m excited about the next chapter for Castle, working with Stephen, Suzanne and the rest of the team.”
Castle offers savings and loans like any high street bank, but instead of making a profit for shareholders, Castle can invest surplus revenue into projects supporting its community.
As a credit union, Castle is regulated by both the Prudential Regulatory Authority (PRA) and the Financial Conduct Authority (FCA) who are part of the Bank of England.
The Castle team sees the community bank as a force for good for its members who can access fair products that would otherwise be unavailable to them from mainstream banks. Castle also seeks to encourage thrift and financial well-being – essential tools for surviving the cost-of-living crisis.
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