Retail banking professional David Fawell is the new chair of the Co-operative Credit Union, which celebrates its 20th anniversary this year.
Mr Fawell, who was elected on 19 March for a three-year term, takes over from Chris Smith, who stepped down after two terms in the role. Mr Smith will continue on the credit union’s board of directors.
Prior to joining the credit union, Mr Fawell has undertaken senior management roles across payments, credit cards and personal loans, marketing, planning, and finance at the Co-operative Bank. He studied economics of money and finance at the University of Sheffield.
He said: “I hope to make contributions to the development of the credit union across its product range, its brand and identity; the challenge for the credit union is maintaining relevance in a world where members demand immediacy and ease of access. I love the simplicity of the credit union model; savings and loans delivered in an ethical manner.”
Mr Smith added: “David is ideal for the credit union at this important stage of its journey. The future of UK credit unions relies entirely on their ability to deliver fast, efficient and seamless financial services whilst maintaining their ethical and co-operative values. David is such a great recruit for Co-op Credit Union; he is really is steeped in understanding the credit unions technological and ethical requirements.”
The Co-operative Credit Union is open to current and retired employees of co-operative organisations. Set up years ago, it has lent out £30m to co-op workers and their families.