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The positions are split between small, medium and large firms to ensure fair representation across the industry.

All Board positions are re-elected on at least a three-year rolling cycle. Existing board members Paul Carley (small firms) and Steve Feeney (medium firms) are both standing for re-election.

Robert Sinclair, director of the AFB, said: "These are challenging times for the industry and the wider economy and it is more important than ever that the industry has a strong trade body representing its interests with regulators, politicians and the media.

"However, we are only as strong as our members make us. That is why it is vital we have engaged members who are willing to serve on the board.

"The secured loans industry faces a number of key challenges this year and sitting on the AFB board offers a great opportunity to influence the future shape of our industry."

The timetable for the election are the nominations open today (6 June) and close on 9 July.

The election will then open on 21 July, with the final date for votes on 6 August. The results will then be announced on 8 August.

To stand for election, full AFB individuals must complete a nomination form and be nominated by two members from the same constituency, one of which can be from their own firm.

To request a nomination form e-mail: Rebecca@theafb.net.