20 September 2012 Last updated at 08:58 ET

New Airdrie Savings Bank chief executive appointed

Mr Ashley wants to the lead the bank "to a new future"

The head of one of the UK's largest credit unions is to become chief executive of Airdrie Savings Bank.

Rod Ashley, chief executive of Glasgow-based Scotwest, will succeed Jim Lindsay who is retiring at the end of the year after 13 years at the helm.

Mr Ashley will take up the post in January.

Mr Lindsay will continue to act for Airdrie Savings Bank in a consultancy role in early 2013 during a handover period

Scotwest serves around 30,000 people and its asset base has grown by 400% since Mr Ashley took over in 1996.

Mr Ashley, who sits on the council and audit committee of the Institute of Chartered Accountants of Scotland, said he was excited by the prospect of leading Britain's only independent savings bank "to a new future".

He added: "Scotwest provides a community-based financial service to those working or living in the West of Scotland.

"I am privileged to have overseen the significant growth of its services, and as I move on to Airdrie Savings Bank, I am looking forward to the prospect of a new challenge."

Mr Ashley joins the bank just 12 months after it opened its first branch outside its Lanarkshire heartland.

The branch in Falkirk was heralded as the first stage in an expansion plan.

The bank said it was continuing to evaluate the success of Falkirk with a view to further expansion in the future.