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Statement from the Chair of the Board, Will Lindsay

Louise Watt Posted by Louise Watt in Penrith Building Society News 1 min read

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We announce today that Tim Bowen, our Chief Executive for the last 5 years will be leaving the Society in late November 2023.


Tim Joined the Society in October 2016 and took up the role of Chief Executive in January 2018. During his tenure he has supported our members, staff and the ,local community by delivering on our purpose.


We are fortunate that Elspeth James, our Finance Director, has agreed to take on the role of Interim Chief Executive following Tim’s departure while the Society identifies Tim’s successor.


The Board remain fully committed to ensuring that our Society continues to meet the needs of our members, staff and community and are undertaking a robust recruitment process to ensure that our values are supported following this change.
On the Society Tim commented, ‘’it has been an absolute privilege to work and lead this business. Leaving the Society has been an extremely difficult decision for me to take. I know that the Board have a robust plan in place in relation to the identification of my successor and I wish the Society every success in the future. The Society remains a strong and resilient Cumbrian business with an excellent team of staff who I know will continue to move it forward.‘’


The Board thank Tim for his support during his time with us and wish him and his family all the very best in the new challenges which lie ahead.

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Your eligible deposits held by a UK establishment of Penrith Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered.

Further information is available here »»
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Or visit www.fscs.org.uk.

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