Copyright © 2023 Avon Mutual. All Rights Reserved. Web Design UK by Bemunchie Online.
Avon Mutual is registered with the FCA under the Co-operative and Community Benefit Societies Act 2014 as a Co-operative Society number 4437
The UK is very unusual in that we have 5 big plc banks which control the market. Across the EU and N America there are 1000s of localised banks.
64% of the banking market in Germany is regional community ‘stakeholder’ banks. Stakeholder and regional banks do certain things much better than distant traditional banks.
Distributing economic activity across regions not just concentrating wealth in places like London
not 'Casino' financialised economy
lending as a focus
focused
and banking the un-banked
to their economies
than traditional more speculation-oriented mainstream banks
A customer owned regional cooperative bank for businesses and individuals in the West of England.
The first of a planned network of similar banks across the UK as part of the Mutual Banks Association of which we are a founding member.
by year 10
impact of £795m - £1.6bn in the first 10 years
or protected through our lending and operations
and other mission driven businesses
including more than 10,300 considered financially vulnerable
brought into the financial system (saving £700,000 p.a. on the Poverty Premium)
in interest for vulnerable customers avoiding high-cost credit
in the 'real economy' rather than the financialised economy
will be with projects that create a positive social, economic, or enviromental impact
Preparation – 2018
Pre-application – 2019 -2022
Application – Q1-3 2023
Mobilisation – Q4 2023
Restrictions Lifted – Q2 2024
Pioneering regional banking in the West of England
Copyright © 2023 Avon Mutual. All Rights Reserved. Web Design UK by Bemunchie Online.
Avon Mutual is registered with the FCA under the Co-operative and Community Benefit Societies Act 2014 as a Co-operative Society number 4437