Episode 96 of Banking Reinvented tackles one of the most important strategic questions facing mutuals and building societies: how do you grow ambitiously without losing the purpose that defines you?
Host Tim Rutten sits down with Andy Deeks, CEO of Leek Building Society in the UK, to explore how purpose-driven institutions can scale sustainably while staying true to their members. Together, they discuss why growth isn't just a financial target but a way to create more value for members, colleagues, and local communities, how smaller institutions can embrace new technology and why having an integrated business and technology strategy helps with longer-term thinking, and what it takes to lead with clarity when the pressure to do everything is constant.
Tune in to hear how a mid-sized building society is proving that purpose and ambition aren't in tension - they're the same thing.
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Timestamps
(00:00) – Welcome to the "Banking Reinvented" podcast
(00:26) – Introduction to Andy Deeks
(01:34) – What Leek Building Society is all about
(03:40) – What's top of mind: focus, clarity, and strategic discipline
(05:17) – Growth strategy: what growth really means for a mutual
(08:30) – Why purpose creates clarity in decision-making
(09:11) – Being member-centric as a mid-sized mutual
(12:16) – You don't shrink to greatness: the case for ambitious growth
(12:45) – Technology vision: augmenting the human connection
(17:23) – Why smaller institutions can move faster than the big players
(18:43) – Turning agility into a competitive advantage
(20:33) – Finding the right technology approach for your institution
(22:55) – Building an integrated business and technology strategy
(25:23) – Key takeaway: the power of purpose-driven leadership
(27:54) – When purpose clicked: a personal story
(30:04) – Episode wrap-up
