Saving with social impact
We use every penny you save to help grow, develop and empower local communities.
Members’ deposits are invested in risk-free ethical investments to support socio-economic development and help create wealth across our region.
How will we invest your money
Open a risk-free savings account with us and we’ll put your money to good use where it can make a difference.
Direct Investments
Personal lending to individuals including those financially excluded, to help stimulate local micro-economies.
Indirect Investments
Lending to charities, social enterprises and other organisations where the loan is being used for a social purpose.
Indirect Investments
Development lending to increase or improve residential housing and commercial regeneration projects.
Individual deposits up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS). The £85,000 limit relates to the combined amount in all the eligible depositor´s accounts
Key information
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We offer targeted dividends on our accounts. This is different to interest. Dividends are like ‘profit-share’ and are dependent on the bank's performance.
Our dividends are ‘targetted’. This means it is projected at a rate we feel is very likely to be a minimum payment. We review these dividend projections quarterly. They are not guaranteed.
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Our investment risk attitude is classed as ethical-cautious. We invest in a better society. We only invest in ethical instruments that have a social impact and are zero risk.
A direct investment is where we directly invest money into a social goal set by our members and board.
An indirect investment is where we invest in other financial institutions that align with our social goals.
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You must be a UK resident of 18 years of age or over (excluding junior accounts). Your credit rating has no impact on your ability to open a savings account with us.
You can open or close an account with us at any time with no fee and close your account with no penalty.
If you want to know a bit more about how your savings will benefit local communities, head over to our foundation
Choose your perfect account
Instant access saver
What is it?
A regular monthly savings account.
Reason to choose it
You need a simple and straightforward way to save on a regular basis with instant access.
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This account is not currently eligible for a dividend payment.
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A fee-free regular saver account with a minimum balance of £1 and a maximum balance of £45,000.
Same-day access before 3 pm excluding weekends & bank holidays.
Christmas club
What is it?
A regular monthly savings account.
Reason to choose it
When you don’t want to pay for Christmas on an expensive credit or store card and you want to make plans now.
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The target dividend on this account is 0.5% AER gross maturing annually on 1st November.
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A regular saver account which pays out annually on 1st November.
Minimum balance of £1 and a maximum balance of £10,000. The account is instant access. Withdrawals are permitted.
Junior savers
What is it?
A regular monthly savings account.
Reason to choose it
You want to build up a medium to longer-term child savings balance to help secure a great start in life.
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The target dividend for this account is 0.5% AER gross maturing annually on 30th September.
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A medium-term regular saver with a minimum balance of £1 and a maximum balance of £10,000. The account is instant access.
Withdrawals are permitted.
Ethical cash ISA
What is it?
A regular monthly or lump-sum transfer savings account.
Reason to choose it
A medium to long-term tax-free way to save in an ethical and community-focused way.
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The target dividend for this account is 0.75% AER gross maturing annually on 30th September.
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An Individual Savings Account (ISA) is a tax-efficient way to save and support local communities.
This is a flexible ISA and withdrawals are permitted without affecting the target dividend payment.
VISA debit current account
What is it?
A full-function current account.
Reason to choose it
You want a VISA debit card to use in shops and ATMs, have your wages or benefits paid in and set up direct debits.
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VISA debit card, online banking, cashback rewards.
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This account has a £2.25 weekly charge. No ATM cash withdrawal charges or overdraft interest.
Not sure what account is best for you?
Call 02392 827980 and speak to a friendly member of staff.
Individual deposits up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS). The £85,000 limit relates to the combined amount in all the eligible depositor´s accounts
Download the membership terms and conditions
