The Board
– working hard on your behalf

The Board of Stafford Railway Building Society currently comprises nine directors who offer a wide range of personal experience. Profiles for the Chief Executive and Chairman, along with the other Board members, are provided here.

Election of directors

Members of the Board have to put themselves forward for re-election at intervals of not more than three years. The election process takes place at the AGM each year and members who are unable to attend in person may vote by proxy.


Some of the business of the Board is undertaken by Committees. The three main committees are the Risk Committee, Audit Committee and the Assets and Liabilities Committee. To view the Society’s terms of reference for these Committees please click the relevant link below:

Risk Committee terms of reference

Audit Committee terms of reference

Board terms of reference

Nomination Committee terms of reference

Remuneration Committee terms of reference

Please click to view a copy of the Society's Rules

The society gives the customer a perception of a safe pair of hands"

Mr L, Great Bridgeford

Michael Richard Smith

Michael Richard Smith

Chief Executive

Mike Smith, appointed CEO October 2017, is a highly experienced corporate and retail banker, having previously served the Society as a Non Executive Director for 8 years. He has been actively involved in a broad range of commercial and personal banking activities during his 33 year career with both Barclays Bank PLC and Svenska Handelsbanken, including treasury management and development of marketing strategy. Educated locally at Walton High School, Mike is a Stafford man with strong local knowledge who is a passionate believer in embracing digital technology whilst retaining the personal service offered by the mutual.
Steven Jones

Steven Jones

Deputy Chief Executive/Finance Director

Steven Jones is Deputy Chief Executive and Finance Director of Stafford Railway Building Society. Steve has over 27 years’ experience in the financial services sector, latterly as Finance Director & Deputy Chief Executive of Hanley Economic Building Society.
Steven lives locally and is married with two daughters. He is a Governor of Newcastle and Stafford Colleges Group and is a Fellow of the Institute of Chartered Accountants. Steven has also held board roles on local housing associations and charities including Mind and Age UK.
Colin Lloyd

Colin Lloyd


Colin Lloyd has 38 years of experience within the financial services industry, with past roles including Head of Mortgages and Securities Services for HSBC in the UK, Head of Internal Audit at the Melton Mowbray Building Society and Operations Director for SBSLS Limited, a subsidiary of Melton Mowbray Building Society. He therefore brings to the Society a wealth of recent and relevant industry and sector experience. Colin, an Associate of the Chartered Institute of Bankers, is also a Rotarian and Trustee and Treasurer of Aquabox, a charity that provides filtration and humanitarian aid to disaster zones worldwide. Colin is Chair of Nomination Committee.
Karen Elizabeth McCormick

Karen Elizabeth McCormick


Karen has held a broad industry career that began in accountancy and progressed into business leadership with a particular interest in business performance improvement with a focus on people. Karen has worked across a diverse range of sectors and held senior leadership roles including: Chief Executive Officer at Cheshire Building Society, Group HR Director at private equity backed Care UK, Vice President HR at Kellogg’s Europe, People Performance Director at Sainsbury’s and HR Director at GUS Home Shopping/Reality. Her early career was spent in financial services, which is where she developed a passion for the mutual sector. Karen is now an established Chairman and Non-Executive Director with extensive experience working with senior executives and Boards to improve business performance from the formation of vision and strategy to delivery at the front line. She is also an effective coach with the ability to identify potential and develop talent. Karen is Chair of the Remuneration Committee.
James William Dean

James William Dean

Senior Independent Director

James Dean is a Chartered Accountant and former Ernst & Young partner where he specialised in the financial services sector. He joined the Board as a Non-Executive Director in August 2012. James is the Senior Independent Director at Liverpool Victoria Friendly Society and a Non Executive Director at Rathbone Brothers Plc. James Dean is a life-long member of the Building Society with a strong interest in its future success driven by a family association stretching back to his great-grandfather who was a founding member.
Nicholas Hugh John Sandy

Nicholas Hugh John Sandy


Nicholas Sandy has over 30 years’ experience as a Chartered Surveyor and has extensive experience working in the Staffordshire housing market. He is able to provide an expert view of the existing and ever changing property markets. In the past Nicholas has also been Chairman of Staffordshire Blind and has been involved with the Stafford Round Table.
David Grant

David Grant


David has over 30 years experience in the Financial Services Industry, both in the UK and overseas. He has held a variety of positions, to Board level, in Banks, a Building Society, Pension Funds, and in Life and General Insurance. He now operates as an independent consultant specialising in organisational and people development, in financial services and beyond. He is a strong supporter of mutuality and keen to see Building Societies adapt and thrive in the changing digital world. For many years David has used the knowledge and experience he has gained through his work to support charitable causes, serving variously as trustee, secretary, chair of finance and governor. He is married with two grown-up children and lives in Staffordshire.
Gary Charles David Crowe

Gary Crowe

Non-Executive Director

Gary Crowe is a Professor in Innovation Leadership at the University of Keele Management School and a Chartered Banker. He is an expert in commercial strategy, digital transformation and business innovation. Gary also holds a number of other Board positions as an experienced Chair and Non-Executive director. His career in Retail and Commercial financial services spans over 30 years, starting work at a local NatWest branch in Staffordshire. Subsequently, he moved to London Head Office roles with The Royal Bank of Scotland and as Managing Consultant at PA Consulting Group, an international management consultancy firm. He specialised in advising and supporting financial services businesses across the UK. Gary is Chair of the Audit Committee.