Monmouthshire Building Society updates its customers on a strong financial performance, thanks outgoing leaders and looks ahead with confidence
Monmouthshire Building Society has today (19th August 2026) updated its customers on its financial performance, strategic progress and future plans at its 157th Annual General Meeting.
The Society reported another year of strong financial and operational performance, with total assets increasing to £1.73 billion, reserves growing to £92.9 million and underlying profit before tax of £6.6 million, while continuing to invest significantly in technology, digital services and the long-term future of the Society.
Customers heard how the Society is continuing to deliver its strategy of sustainable growth through modernisation, with progress across digital services, lending capabilities, data and technology, and preparations for the introduction of a new core banking platform.
Chair Marian Evans thanked members for their continued trust, support and loyalty. Marian said: "As a mutual organisation, our customers are at the heart of everything we do. We remain focused on creating long-term value for our customers, helping them achieve their financial goals and supporting the communities we serve.
“We are building a stronger, more resilient and increasingly modern Society whilst remaining true to the purpose and values that have guided us for more than 150 years."
Customers also received an update on recent changes to the Society's Executive leadership team.
Marian confirmed that Chief Executive Officer Will Carroll and Chief Finance Officer Iestyn Evans have left the Society and thanked both for their contribution to Monmouthshire Building Society.
Speaking about Will's departure, Marian said: "On behalf of the Board, I would like to thank Will for his outstanding contribution to Monmouthshire Building Society over more than 22 years of service.
“Throughout his time with the Society, including his tenure as Chief Executive Officer, Will played a significant role in the Society's growth, development and success. His leadership helped strengthen the Society, support our colleagues and communities, and position us well for the future. The Board places on record its sincere appreciation for his many years of dedication and service, and we wish him every success in the future."
Marian also thanked Iestyn Evans for his contribution as Chief Finance Officer and for the role he played as a member of the Executive team and Board.
Marian continued: "We are fortunate to have highly experienced and trusted leaders in Dawn and Julian. Both are long-standing executive members of our Board with a deep understanding of our customers, communities, colleagues and strategy.
“Their appointments provide strong continuity and stability, and the Board has every confidence in their ability to lead the Society through the next stage of its journey."
The Society has begun the recruitment process for a permanent Chief Executive Officer and an Interim Chief Risk Officer as part of its ongoing succession planning and leadership development activities.
Interim Chief Executive Officer Dawn Gunter updated customers on the progress being made across the Society's transformation programme, highlighting investment in digital services, mortgage processing, customer experience and organisational capability.
Dawn said: "We are investing today to ensure Monmouthshire Building Society remains relevant, resilient and successful long into the future.
“While the way customers choose to interact with us continues to evolve, our commitment to personal service, strong relationships and supporting our communities remains unchanged.
“We have strong foundations, a clear strategy, talented colleagues and exciting opportunities ahead. I am confident that the Society is well placed to continue modernising, growing sustainably and delivering long-term value for customers."
During the AGM, customers also heard how the Society continues to support local communities through its Charitable Foundation, financial education initiatives and community partnerships. Colleagues contributed more than 1,600 hours of volunteering during the year, helping organisations and causes across the region.
Closing the meeting, Marian thanked the Society’s customers for their continued engagement with the Society and reaffirmed the Board's confidence in the future.
"Monmouthshire Building Society enters this next chapter from a position of strength. We remain financially resilient, operationally strong, and firmly focused on the opportunities ahead,” Marian said.
“Through continued investment in our people, technology and communities, we are ensuring that the Society remains a trusted mutual, serving customers and supporting communities for generations to come."
The full results of the AGM voting will be published on the Society's website following the conclusion of the meeting.