New co-operative savings banks?


Local economies are the way we should be going. It makes so much more sense that moving stuff half way around the globe or even country!

Ed Mayo's Blog

The idea of regional banks, a bank that recycles savings in the area and boosts the local economy, is one that has created a buzz in recent years. Now, there is a new co-operative society that aims to make this happen. The Community Savings Bank Association is testing public and institutional interest in all regions and nations of the UK in new banks that would offer a full and competitive service…and be customer-owned.

James M Moore, Chairman of the Community Savings Bank Association, is encouraging people to register if they have an interest in a customer-owned, co-operative savings bank for their region.

These would be the first customer-owned co-operative society banks in the UK. The rules for the new society are registered with the Financial Conduct Authority.

While The Co-operative Bank has an active commitment to co-operative and ethical values, including the launch of an excellent new campaign this month…

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