Unity Trust Bank, which supports organisations to deliver positive social impact, has announced the appointment of Penny Hogan to Chief Financial Officer.

Penny first joined Unity in 2021 as Financial Controller, and her promotion to Chief Financial Officer (CFO) reflects her strong contribution to the business over the past three years.

With 14 years’ experience in financial services, Penny previously held senior positions at the Co-operative Bank, including Head of Retail Pricing and Head of Financial Reporting, and at Deloitte, working in Manchester, London, New York and Dubai.

With a broad understanding of commercial business combined with her proven financial acumen, Penny brings a wealth of expertise to the role, as well as a strong personal commitment to help further Unity’s mission to deliver social good.

In her new role as CFO, Penny will be responsible for the delivery of investment in business change areas to continue to enhance customer experience – from Unity’s online banking platform to the introduction of new digital tools and products.

Commenting on her new role, Penny Hogan said: “I’m delighted to take on my new role as Chief Financial Officer. Unity’s ambition to help create a better society is at the heart of its proposition and this strongly aligns with my own personal values. It’s incredibly rewarding to work for an organisation that prioritises positive impact alongside profit, and with Unity’s strong purpose and ambitious growth aspirations, it’s an exciting time for the business.

“I often think of this role as Chief “Futures” Officer, as through delivering strong commercial returns, we can continue to support organisations that demonstrate a positive contribution to social, economic and environmental change. And in doing so, we can further strengthen our impact, broaden our reach, and help to unlock future pathways and opportunities for communities most in need.”

During her time at Unity, Penny has also spearheaded the bank’s commitment to the Fair Tax Mark accreditation scheme. A long-standing advocate of fair and transparent tax practices, Unity was proud to be the first UK bank to be awarded the Fair Tax Mark in 2014 and has gone on to retain the accreditation for 10 consecutive years.

Colin Fyfe, CEO at Unity Trust Bank, said: “With her financial expertise and in-depth market knowledge, Penny is a real asset to the business. We’re committed to investing in our people and supporting career development, and I’m delighted to see Penny progress to her new role.

“At Unity, we have a 40-year heritage of delivering social good and I know that Penny fully supports the integrity of our values and our customer-driven proposition. I’ve no doubt her sharp focus and strong leadership will further strengthen business growth and, in turn, the positive social impact we’re able to deliver to communities across the UK.”

Unity was founded by the trade union movement in 1984 to serve the common good. It reported a record level of lending in its end of year results in 2023 – exceeding £1 billion for the first time and growing 21% from the previous year – with 45.3% of financing going into areas of high deprivation.

Celebrating its 40th anniversary this year, Unity recently received the King’s Award for Enterprise in Sustainable Development 2024 and was named in The Sunday Times Best Places to Work 2024. Unity has a Gold standard for Investors in People, is a Real Living Wage and Disability Confident Employer, and a signatory of the Women in Finance Charter.