After 22 years at the helm, Ian Nelmes is stepping down as Greater Building Society chairman. Current Greater director and former Lake Macquarie mayor John Kilpatrick will take up the role.

Mr Nelmes said that there would be a smooth transition with the post being filled by another experienced director. He will continue to serve on the Board as a director.

“After 22 years as chairman it is time for me to let others lead this great institution,” Mr Nelmes said.

Mr Nelmes said he was handing over the reins of the Hunter based financial institution with a deep sense of pride, in the knowledge that his achievements had served members well.

“As a mutual financial institution we always put our members first,” he said.

When Mr Nelmes took over as chairman in 1986, the Greater had 48 branches, 240 staff and assets worth around $274 million. Today it employs 700 staff, has assets worth more than $4 billion, and is one of Australia's Top 500 private companies. With 65 branches across NSW and the Gold Coast it has the largest branch network of any Australian building society. Mr Nelmes announced strong profit results at the company's AGM on Tuesday.

He cited accomplishments including the Greater's continued expansion of its branch network, its committed focus to customer service, and the introduction of innovative rewards like free holidays as critical to its success. The Greater had invested heavily in measures to ensure its members' funds are safe and secure, including the construction of a multi-million dollar business continuity centre.

Mr Nelmes paid tribute to the Greater's staff who “were second to none in this industry.”

“We have worked to build a family like culture where we value, develop and retain our staff.”

“It has been a privilege to work with our highly skilled staff to serve the members of the Greater.

He also said that the Greater has stood firm and maintained its conservative lending practices, even in times of intense competition, which is one of the reasons it is in such a strong position today.

“I am extremely confident that the Greater will continue to prosper.”

Mr Kilpatrick, who has been a Board member since 1998, said he was honoured to be chosen as the new chairman. He has practised as a solicitor in Lake Macquarie for more than 30 years and was Mayor of Lake Macquarie City Council from 1993 to 2004. He has been a trustee of the Anglican Diocese of Newcastle and chairman of Anglican Care Retirement Villages for 30 years. He has been a Board member of Samaritans for 28 years.

Mr Nelmes joined the Greater Board in 1980. The other directors of the Greater are: Mrs Anne Thurlow, managing director of accounting firm A Thurlow Pty Ltd; Mr Allan McKeown, chief executive of Prosperity Advisers; Mr Scott Robinson, managing director of surveying firm ADW Johnson; and Mr Greg Walls, managing director of Australian Wine Selectors.