New Darlington Building Society CEO hails record 2025 results

Alex Windle succeeded Andrew Craddock as CEO as the Society celebrated its 170th anniversary at a well-attended annual general meeting at the ARC – Stockton Arts Centre.

Mr Windle, who was previously chief customer officer at West Brom Building Society, said: “It’s clear that the Darlington is in a strong position, and remains true to its roots as a regional, mutual building society.

“In the short term, the full impact of the wars in Iran and Ukraine on the economy, housing market, and customers is not clear, and the global outlook is uncertain and unpredictable.

“At the same time, the speed of technological development, in areas such as artificial intelligence, is rapidly reshaping financial services and customers’ expectations.

“This will present both challenges and opportunities for the Society and our members that we are well placed to take advantage of.”

The Society celebrated a milestone year in 2025, reaching more than £1bn in total assets – an increase of nearly 10 per cent from £935m at the end of 2024 – while also breaking through the £1m mark for charitable grants distributed since 2017 through the annual pledge to donate 5 per centof profits to local good causes.

The Society’s core operating profit before tax in 2025 was £3.7m compared to £3m in 2024.

The Society also achieved its highest ever gross mortgage lending of £234m, a 58 per cent increase on 2024, with 40% of the record figure supporting first-time buyers.

The Society’s retail savings book increased to £939m compared to £853m at the end of 2024.

Over the past three years, more than £12m additional interest has been paid to the Society’s savers than if they had received the market average interest rate.

Rachel Court, reporting on the end of her first year as chair, paid tribute to Andrew Craddock for his leadership, dedication to the region, and for “truly immersing himself in the local community” over his seven years as CEO after relocating from Buckinghamshire.

“Andrew leaves the Society in robust good health, and we wish him all the very best in his retirement,” she said.

Mr Craddock said: “It has been an immense privilege and honour to work with so many talented and dedicated colleagues, serving the community in such a special part of the country.

“I’m proud to have played a part in the vast legacy of Darlington Building Society, and I am certain, under Alex’s stewardship, the Society will continue to ascend new heights.

“I will be watching with encouragement and pride.”

Carol Charlton, chair of trustees of St Teresa’s Hospice, one of the many charities to have been supported by Darlington Building Society, was guest speaker.

“Darlington Building Society has been instrumental in helping us right from the beginning when we were founded 40 years ago, donating £120,000, and enabling us to develop specialist rooms for in-patients and to buy much-needed equipment,” she said.

She also praised the Society’s “wonderful staff” for contributing almost 200 hours of volunteering over the past year alone.