A quarter of a century of community banking.

Since 2001, the bank has grown across Hampshire and the Isle of Wight, acquiring several other credit unions along the way.

We’re a cooperative inspired by the original cooperative principles of self-help, democracy, financial education and delivering community engagement.

Today, we serve central southern England, including all of Hampshire & IOW, as well as Bournemouth, Reading, Woking, Guildford and Newbury.

Governance & Regulation

Wessex Community Bank is a fully regulated not-for-profit member-owned cooperative bank

  • Authorised by the Financial Conduct Authority (213757)

  • Regulated by the Prudential Regulatory Authority

  • Part of the Financial Services Compensation Scheme

  • Member of the Financial Ombudsman Service

  • Member of the FairLife Charity

  • Registered Mutual Society (641C)

Financially strong and reliable.

  • We’re a financially strong bank which is well capitalised with a highly liquid balance sheet conservatively and ethically invested.

  • Our capital ratio is more than triple the level required by our regulators and we do not carry any external sources of debt. We do not have any subordinated capital or deferred shares and have significant reserves.

  • Our risk attitude is cautious/balanced with a sustainable and pragmatic governance approach.

Financial highlights 2023/24

Debts:

Subordinated debts ~ £0

Deferred shares ~ £0

Grants received ~ £0

Other borrowings ~ £0

Regulatory Ratios:

Liquidity Narrow ~ 23%

Capital Adequacy (CAR) ~ 20%

Net Interest Margin ~ 8.4%

Loans To Shares ~ 33%

Cost To Income ~ 57%

Financial Ratios:

Return On Assets ~ 4.2%

Return On Investments ~ 3.6%

Return On Equity ~ 24%

Yeild On Loans ~ 18.5%.

Summary:

We’re performing above expectations with strong reserves, high liquidity, positive earnings, highly managed arrears and no external debt.

Members should be pleased with a resilient balance sheet and steady, sustainable progress. With solid capital and ample liquidity headroom, we’re well placed to grow lending prudently, improve returns, and reinvest more into member value and community impact.

The Senior Management Team

  • A black-and-white photo of an older man with glasses and a beard standing outdoors in front of city buildings.

    Dr Hugh Mason

    Chairman | MLRO

    Educated at Cambridge (MA) and Swansea (PhD), he has taught economic geography at the University of Portsmouth since 1968 and authored three books. Hugh has held senior union, church and political roles in Portsmouth. Hugh is also a local councillor and has held various cabinet posts.

  • Gary Moran

    Gary Moran

    Chief Executive

    Gary became CEO of Wessex Community Bank in 2015, with a career in banking, boutique investment management, and UK intermediary markets. He has guided the bank through a major transformation towards digital services while keeping a strong focus on personal, community-based banking

  • Black and white photo of a smiling woman with dark hair, wearing a necklace and a blazer.

    Angela Hickmore

    Non-exec Director | Secretary

    Angela has spent 25+ years building teams and turning businesses around, with a focus on UK and Irish retail financial services. They’ve led start-ups and larger PLC and private-equity backed firms, specialising in senior hiring and leadership advice. Former Group Managing Director at Norman Broadbent.

  • Black and white photo of a smiling older man with glasses, gray hair, and a beard, wearing a dark collared shirt.

    Andy Smith

    Non-exec Director.

    Andy advises on business and technology change. A former COO and CIO in banking, lending, insurance and payments, he helps organisations work smarter while keeping customers, teams and regulators in mind. He has led Europe-wide programmes that delivered multi-million-pound savings.

  • Alun Williams

    Non-executive Director

    Alun is a retail financial services leader with experience at Barclays, Coventry Building Society, NS&I and Shawbrook. Combines marketing and commercial leadership with a hands-on approach to data, technology, product and operations, driving growth and great service, with strong risk and governance

  • Keeley Clements

    Non-executive Director

    Keeley is a transformation leader who delivers customer-led growth and improvements across UK banking, payments, global payroll and mergers & acquisitions. Keeley has held senior roles with advisory work for financial services, PE-backed companies and local government. Experienced across B2B, B2C and SMEs

  • Steve Betteridge

    Non-executive Director

    Steve is a financial services leader with 35+ years’ experience across Lloyds Bank, the Bank of England, HMRC and the Rural Payments Agency. Skilled in payments operations, shared service centres, and risk & compliance. Seasoned non-executive with board roles at the Rural Payments Agency, Turkish Bank UK, Koine Money and the Retirement Lease Housing Association

A Brief History

From Local Credit Union to Leading Cooperative Bank

Origins & Growth.

Founded in December 2001, as Portsmouth Savers Credit Union, we set out to deliver ethical, accessible finance. Rapid growth followed, and Solent Savers joined us soon after. Our common bond widened across Hampshire in 2007, and the Isle of Wight Credit Union joined in 2011, linking communities across the Solent.

Digital Transformation

In 2015, we re-platformed for online and mobile banking, while keeping telephone support, and adopted the Wessex Community Bank name to reflect a broader, modern mission.

Innovation: The Cashback Loan

Every repayment includes a tailored savings element, helping thousands build lasting habits and a financial safety net. It’s not just saving, but is individually tailored to every borrower, so they can get the best outcome for their future.

The Foundation

Launched in 2020, the Foundation provides quarterly community grants, commits at least 25% of assets to lending that supports the financially excluded, and invests members’ deposits ethically and for social impact.

Expanding Footprint

By 2022, our reach extended across central southern England. In 2024, we moved to a high-tech head office in Fareham to support our digital-first strategy. We remain debt-free with strong reserves and with strong, experienced governance.

Our Philosophy

Inspired by successful German and US credit union models, we serve the whole community, broad, inclusive membership and an outlook of commercial focus and sustainability, with a pragmatic and risk-rated approach to lending.

Looking Ahead

Safe, strong, and member-focused, Wessex Community Bank is committed to anticipating change, embracing innovation, and improving financial well-being for all.