Mr Fyfe joins Unity with more than 40 years’ experience in the banking sector including 10 years as CEO at two building societies. With a deep understanding of commercial business and the wider regulatory banking environment, he brings a wealth of knowledge and expertise to the role.

Mr Fyfe said: “Unity’s very strong track record, its social purpose and driving ambition are compelling.

“Personal service and relationship banking combined with community good is a great proposition for all SMEs and socially-conscious organisations. I’m delighted to be joining as CEO.”

Alan Hughes, chairman of Unity Trust Bank, said: “I’m very pleased to announce Colin’s appointment. Unity has grown four-fold since it became independent in 2015 and Colin will be a driving force for the next stage of Unity’s progress.

“Colin joins Unity with a strong record of innovation, transformation and growth.”

Mr Fyfe succeeds Deborah Hazell who stepped down from her position as CEO at year end.

Mr Hughes continued: “On behalf of the board, I would like to thank Debbie for her commitment and wide contribution to Unity.

“Most notably she has improved our approach to impact, delivered the new digital banking platform for our customers and raised Unity’s profile externally. We are grateful to her.”

With offices in Birmingham, London and Manchester, Unity offers an ethical alternative for businesses with a social conscience, working with organisations and SMEs that share its values and philosophy.

With its ‘double bottom line’ strategy of delivering social impact and not simply maximising profits, Unity lends to customers that make a positive contribution to economic, social and environmental change in communities across the UK.