A Bank That’s Not For Profit

Yes, you’re eyes are working just fine.

Here’s how it works

We can make profits like the big banks (which we call surpluses) but here’s the difference. Instead of pocketing it, we ringfence that income to invest back into local communities.

We’re not just about banking, we’re about building up local economies, helping people thrive, and creating real lasting impact.

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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.

Let’s go over the main points:

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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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.