The RSA are supporting the Community Savings Bank Association to develop a UK-wide network of customer-owned, regional banks that will serve the everyday financial needs of ordinary people, local community groups, and small and medium sized companies.
Avon Mutual (covering Gloucestershire, Wiltshire, Bristol, Bath) and South West Mutual (covering Devon, Dorset, Somerset, Cornwall) are two of the first banks in the network to make significant progress.
These will be an ethical and sustainable alternative to the big banks, supporting small local enterprises and helping to develop more resilient local economies. As well as providing a range of local benefits, these banks will fill a gap in the UK investment landscape which is well served by community banks across Europe.
The RSA is running a series of events across the South West to explore the social, economic and environmental case for regional banks and would be keen for SMEs across the region to join the discussion. Events will be held in the following locations:
Regional Banking Series
Gloucester – 6th March, 7-9pm
Bristol – 9th March, 7.30 – 9.30am (8am start)
Bath – 14th March, 7-9pm
Truro – 23rd March, 9-11am
Salisbury – 27th March, 6.45 – 8.45pm
Bridport - 26th April, 7-9pm
Swindon - 22nd May, 7-9pm
Bournemouth - 20th June, 7-9pm (TBC)
If you are interested in finding out more about the development of these banks but are unable to attend any of these events, please email Mark Hall (Deputy Head of Engagement, RSA) at Mark.Hall@rsa.org.uk for more information.
The development of regional banks was one of the key recommendations from the RSA's inclusive growth commission.