What is a not-for-profit bank?

A not-for-profit bank like Wessex Community Bank is a member-owned, ethical financial institution designed to benefit its customers rather than maximise profits for shareholders.

Are we a cooperative bank?

Yes. We are also a cooperative (co-operative) bank is a member-owned, member-governed financial institution that operates on the principle of one member, one vote.

How are we different to a 'big bank'?

High street banks are built to maximise returns for external shareholders.

Being a member of Wessex Community Bank means you’re not just a customer, you’re a member-owner of a not-for-profit, cooperative bank.

What do we do with our profits (surpluses)??

As a not-for-profit bank, Wessex Community Bank reinvests every surplus back into our members and the places we serve across Central Southern England.

Do I need to change banks?

No. You can keep your existing current account with your high street bank and still join Wessex Community Bank.

Yes. A Bank That’s Not For Profit

We’re not just about banking. We help build local economies, helping people thrive and creating lasting impact.

Member Owned

We’re member-owned. People who save and borrow with us all own the bank together as a cooperative.

A cooperative bank is owned and managed by its members, who are also its customers. We are founded on principles of mutual help, democratic decision-making and shared benefits.

Ownership and Membership: Members of a cooperative bank have an ownership stake. Each member has an equal vote in the bank's decisions, regardless of how much money they have deposited.

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Customer Focused: Cooperative banks are typically established to serve the financial needs of communities. They aim to provide accessible banking services for ordinary people rather than focusing on maximizing profits

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Profit Sharing: Any profits made are usually reinvested to improve services or distributed among members, either as dividends or benefits like lower fees or better interest rates.

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Social and Economic Development: Cooperative banks often support local development projects, provide support to underserved communities and encourage savings and financial resiliance among members.

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BORROW

SAVE

FAQ

A not-for-profit bank like Wessex Community Bank is member-owned and reinvests any surplus into better rates, fairer loans, and community benefit, not shareholder dividends.
We exist to serve members, not external investors. Surpluses fund competitive savings, affordable personal loans, and improved services. By joining Wessex Community Bank, you become a member-owner helping to strengthen communities across Central Southern England.
A cooperative (co-operative) bank is owned and governed by its members on a one member, one vote basis.
Decisions are made democratically, with surpluses reinvested into products and services that benefit members and the local area. Wessex Community Bank follows this ethical, member-first model to support individuals, families, and local organisations.
High street banks maximise shareholder returns; Wessex Community Bank reinvests surpluses to benefit members and the community.
We prioritise transparent pricing, responsible lending, and long-term financial wellbeing over quarterly profits. Your money works locally supporting community projects and fair access to savings and loans.

You’re not just a customer, you’re a member-owner with a real say in how we’re run.
Members can take part in AGMs and board elections. Because we’re not-for-profit, any surplus is used to improve products and services for members and to support our region.
We reinvest surpluses into our Foundation grants for grassroots groups, fee-free community accounts, and fair lending to a wide range of people.
Every pound goes back into member value and community impact, keeping borrowing affordable, rewarding regular saving, and funding local projects across Central Southern England.
No. Keep your existing current account and still join Wessex Community Bank.
Use us alongside your main bank for ethical savings and affordable loans. Repay by Direct Debit, standing order, or payroll deduction where available, while your membership supports the local community.

How safe is your money?

Wessex Community Bank is a solid and safe place to invest your money.

We are well capitalised with significant liquid capital and reserves.

We are debt-free with no subordinated debt, deferred shares, external investors or stakeholders.

Our capital ratio is more than triple the level required by our regulators

Deposits have a guaranteed return of capital.

Dual regulated by the Financial Conduct Authority (213757) and The Prudential Regulatory Authority and protected by the Financial Services Compensation Scheme.