New Chair already part of the furniture

Pictured: David Gage

Stafford Railway Building Society has appointed former corporate banking director David Gage as Chairman.

Already a Non-Executive Director since 2007, David (age 65) succeeds Arthur Bailey (who now becomes Vice Chairman) as part of the Society’s succession planning strategy to maintain stability, growth and expertise.

Chief Executive Susan Whiting explains: “As a former Corporate Director for Nat West, David brings a wealth of experience that we can readily tap into. Coming from the banking sector, he brings a different perspective to the role, but he is also the first to acknowledge our enviable and consistent trading record achieved by remaining true to the building society model.”

David adds: “I am privileged to be chairing a very successful mutual building society at the heart of its community and which has served its members for 135 years. The mutual model means that we do not have the interests of shareholders to consider – we focus directly and intently on providing our loyal members with an outstanding personal service coupled with competitive mortgage and savings rates.

“Stafford Railway Building Society has dedicated and experienced staff, plus a strong capital base, low cost – income ratio and offers consistently competitive savings rates to individuals and businesses. We are and always will be about simple and transparent products that are fairly and competitively priced, because we represent the more human side of lending with a real emphasis on friendly, helpful service that goes the extra mile.”

Mr Gage is also Deputy Chair of Governors at Staffordshire University and Chair of North Staffordshire Risk Capital Fund PLC – a pioneering fund established to lend unsecured to small and medium businesses. And he leads his own business consultancy. David is Trustee of the Friends of Staffordshire Army Cadet Force and sings with the Uttoxeter Choral Society where he lives. He absorbs any spare time beyond that reading political and historical works, watching Leicester Tigers rugby, walking, skiing and horse riding.