Not-For-Profit Since 2001
The not-for-profit bank for people in Hampshire & IOW, Bournemouth, Reading, Newbury, Woking, Guildford & surrounding areas.
Unlike high street banks, we don’t exist to maximise profit for investors.
Instead, we reinvest everything back into the things that matter like affordable loans, rewarding savings, and long-term support for the people and communities we serve.
We provide rewarding, financial products from a friendly team.
Personal Loans | Instant Access Accounts | Christmas Clubs | Cash ISAs | Community Group Accounts | Budgeting Accounts | More
What Is A Not-for-profit Bank?
Our surpluses are used to do good and benefit communities.
Any profits we make are called surpluses. They are invested in the local community.
They are also used in pursuing our social objectives of providing fair, ethical and affordable finance.
No External Influence.
Our members own our bank together as a cooperative.
We don’t have any corporate shareholders pursuing their own financial objectives.
It’s our members who help set and drive our social goals and aims with a one-member, one-vote system.
Bigger Isn’t Always Better.
A regulated bank focused on serving local people in our region.
You won’t find any international call centres, expensive offices or overheads with us.
Our friendly experienced team of local people work from our Hampshire Head Office
A bank without the big call centre. We’re people you can talk to.
A Brief History
From Local Credit Union to Leading Cooperative Bank
For almost 25 years, Wessex Community Bank has grown from a small, local credit union into one of the South of England’s most established cooperative financial institutions. Founded in December 2001 as Portsmouth Savers Credit Union, it set out to provide accessible, ethical financial services to the communities of Portsmouth, Havant, Fareham, and Gosport.
Early Growth and Regional Expansion
The Bank soon acquired Solent Savers Credit Union, expanding its reach. By 2007, it had widened its common bond to cover all of Hampshire, and in 2011 it acquired the Isle of Wight Credit Union, connecting communities across the Solent.
Anticipating the Future of Banking
In 2015, the Bank undertook a full digital transformation, introducing online and mobile banking while retaining telephone banking for personal service. This forward-thinking move anticipated members’ future needs and marked the adoption of the Wessex Community Bank name.
Pioneering the Cashback Loan
This approach transforms borrowing from being solely a financial obligation into a pathway towards financial resilience. By ensuring that every repayment includes an individually tailored contribution to savings, thousands of members have been able to establish lasting savings habits and build a financial safety net for the future.
The Foundation
The Foundation began life in 2020 with commitments that include providing quarterly grants to local groups and organisations, alongside the forthcoming Local Hero Award; allocating at least 25% of assets to lending that supports those financially excluded; and investing members’ deposits in ethical, purposeful, and socially impactful initiatives. The Foundation’s community grants provide cash injections to grassroots community-focused impactful projects.
Expanding Across Central Southern England
By 2022, the Bank’s reach had grown to include Bournemouth, Andover, Newbury, Reading, Woking, Guildford, and the surrounding areas. In 2024, it moved to a high-tech head office in Fareham to support its digital-first strategy. Debt-free and with strong reserves, Wessex Community Bank combines innovative products with a sustainability-led approach.
Inspired by International Models
Wessex Community Bank draws on the philosophy of the very successful German and US credit union movements, which differ from UK models and focus on broad, inclusive membership across all sections of society.
This approach fosters stronger, more sustainable cooperatives that are capable of offering a comprehensive range of modern financial services. Unlike typical English models that can often be promoted primarily as welfare or poverty-alleviation mechanisms, Wessex aims to serve the whole community while still providing targeted support to those facing financial exclusion
Looking Ahead
Today, Wessex Community Bank remains safe, strong, and member-focused — committed to anticipating change, embracing innovation, and improving financial well-being for all.
Our Foundation
Our community grant award scheme has helped local groups, organisations and charities across our region.
The foundation provides grants, services and support to communities within our common bond. The foundation committee meets once a quarter and distributes our foundation’s strategic aims and goals.
Helping People Save
We help people save through Christmas clubs, ISAs workplace, schemes and when members borrow money from us with popular our cashback loan.
Helping People Borrow
We help people borrow whether unemployed, low-income or high income. Our standardplus loan is guaranteed to be lower than any other lender.
Helping Local Communities
We help local communities grow and come together through our foundation. Its 5 core aims help support community organisations and strives to create positive social impact.
What do our customers say about us
Our Three Key Promises
Invest with guarantees against depositor’s loss.
Invest with honesty and transparency.
Support economic and social development in Hampshire & IOW, Reading, Newbury, Bournemouth & surrounding areas.
Strong And Safe
Our bank is solid and 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.