In December 2021, we revealed ambitious plans to deliver Wales’s very first Community Bank — one of the biggest and most exciting developments in Monmouthshire Building Society’s history.
With strong support from Welsh Government, Community Bank for Wales will lead the way in providing high-quality, accessible retail banking to communities across Wales.
Building on the Society’s strong experience and reputation as a leading Welsh brand, the community bank will be based on our current mutual model — meaning it will be owned by, and run for, the benefit of our members.
With many retail banks leaving high streets across Wales, many people and communities have lost access to much valued banking services.
People who rely on face to face banking and rural communities have been hit the hardest. This often includes people and businesses who are more reliant on cash, those with financial vulnerabilities or health challenges and people that don’t only want to manage their finances online.
This financial exclusion has a huge detrimental impact on society and the economic, cultural and even environmental wellbeing of a sustainable Wales.
And we don’t think that’s right.
So we’re addressing this lack of provision and market failure by developing and delivering a Community Bank for Wales.
Our Community Bank for Wales will be owned by and run for the benefit of our members.
We will provide bilingual, everyday retail banking products and services for individuals and businesses, accessible through telephone, digital and, crucially, a network of physical outlets located across Wales.
Headquartered at our home in Newport, our Community Bank will:
We believe this is the right thing to do — for our members, future members and for Wales.
While there’s still a lot of work to do to develop a product and brand of this scale and bring it to market, we’re making big strides forward and want to keep you involved in the journey...
Check out our Latest News to stay up to date — plus, there’ll soon be a dedicated Community Bank for Wales website, where you’ll discover more about the brand and its services. Watch this space!