'Inspirational' mutual leader to step down

A mutual is preparing to say farewell to an “inspirational” chief executive who has overseen a “transformational” chapter in its history.

Andrew Craddock will retire as chief executive of Darlington Building Society at its 2026 AGM, marking the end of a seven-year tenure that has seen assets rise from £612 million to more than £1 billion.

Appointed in 2018, Andrew set out a clear vision for growth, modernisation and long-term sustainability. 

Under his leadership, the mutual rolled out its largest-ever investment programme in its 170-year history, with upgrades in digital services, cloud infrastructure and branch refurbishments.

Staff numbers have also increased by 40 per cent and member satisfaction rose to 98.8 per cent, with the society consistently topping mutual sector rankings.

Andrew, whose departure will bring to a close a distinguished 40-year career in financial services, including more than a decade at the helm of mutual organisations, said: “It has been a privilege to be a steward of the society’s progress over the past seven years, and I’m proud of what we have achieved. 

“It has also been a joy to get to know this fantastic part of the country, and the people who live here.

“In 2026, the society will celebrate its 170th anniversary of encouraging savings and supporting home ownership, and it feels like an appropriate time to hand over the baton to a new chief executive to build on the firm foundations that are in place and take the society to the next station on its journey.”

Andrew also championed the society’s 5% Pledge, which helps channel profits into North East communities that are expected to reach a cumulative £1 million by 2025.

Rachel Court, chair of Darlington Building Society, added: “Andrew has been an incredibly successful and transformative chief executive for the past seven years, having led the modernisation of our systems, the implementation of our online savings capability, the enhancement of our culture and our offering to members, and perhaps most crucially of all, having contributed massively to the society’s presence in and support of our local communities.

“Andrew really has been a fantastic role model for everything that’s good about the building society sector and will be massively missed when he retires next year.”

Jack Cullen, who was chair for the past ten years, added: “Appointing Andrew as chief executive was undoubtedly the best decision I made. 

“He has been an inspirational leader, who turned an ambitious strategy into reality during a transformational period.”

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