A South West bank for inclusive growth

Imagine if there was a bank dedicated to the South West that put the welfare of its local communities before profits. A bank that helped local economies to grow by supporting all residents to upskill, regardless of their financial means. A bank that empowered people to grow their ideas into thriving local businesses. A bank that people trusted. What might the South West look like in twenty or thirty years time?

Join us for an interactive event with the RSA's Director of Economics, Tony Greenham, to discuss the economic and social case for regional banks, and to explore the opportunities and challenges of creating a co-cooperative bank dedicated to the South West.

"Our economy needs a more diverse, locally focused, and sustainable approach to finance if we are to rebalance the economy and fulfil the growth potential of all our cities and all our citizens" - John Clancy - Leader, Birmingham City Council.

The need for regional banking was highlighted in the RSA's Inclusive Growth Commission, where we saw that lack of access to appropriate banking and financial tools can have a serious impact on people on low incomes or with a poor financial history, as well as on SMEs and micro businesses. Incredibly, there are over 1.7 million adults in the UK that don’t have a bank account, while at the same time the pace of branch closures has accelerated rapidly, leaving 1,500 communities without a bank. Whilst already severe, these challenges are likely to become even more acute in the context of Brexit and upcoming reforms to local government financing. There has never been a more urgent need to rebalance the UK economy.

At the RSA we’re supporting the Community Savings Bank Association to create a UK-wide network of customer-owned, regional banks to serve the everyday financial needs of ordinary people, local community groups, and small and medium sized companies.

This event will bring together a wide range of local stakeholders, including local business owners and representatives of local government. Following the talks, we will move on to interactive table discussions to leverage the expertise, knowledge, and experience of the participants in the room. We will explore:

● What the motivations and barriers are in Glastonbury & other local areas to establishing this kind of bank

● What role different stakeholders can play in catalysing the establishment of a South West bank

We hope you can join us.

Agenda

7.00 - 7.30 – Registration 
7.30 - 7.35 – Welcome: Mark Hall, RSA Deputy Head of Engagement
7.35 - 7.50 – Glastonbury's Last Bank Standing Campaign, Kevin Redpath 
7.50 - 8.30 – A bank for the South West: Tony Greenham, RSA Director of Economics
8.30 - 9.00 – Table discussion
9.00 - 9.30 – Refreshments

If you have any access requirements or require any reasonable adjustments, please let the team know: engagement@rsa.org.uk. Please also let us know if you have any dietary requirements or severe allergies.

Location: Glastonbury Town Hall, Magdalene Street, Glastonbury, BA6 9EL