Monmouthshire Building Society Working on Welsh Community Bank Possibilities

Supporting the creation of a Community Bank for Wales is a key commitment within the Welsh Government’s recently published, ‘Programme for Government’.

The community bank for Wales is a good fit for the Society as a proud Welsh based Mutual serving the needs of the people of Wales for 150 years.  Delivering the community bank is an exciting opportunity to build further on the Society’s vision of the modern mutual.

As a purpose-led organisation the Society’s priority has always been to provide convenient and relevant financial services in support of our members in Welsh communities. The Banc Cambria community bank model will ensure that members and their communities will remain at the heart of the Society’s purpose, both now and in the future.

Will Carroll, CEO of MBS commented, “Whilst this project is in its development phase, the Society is delighted to be working with Welsh Government to bring to life the aspiration of a community bank for Wales.  We believe that delivering a community bank will support the Society’s purpose to bring more relevant services to members in more places in Wales’.

With the support of Cambria Cydfuddiannol Limited (CCL), both parties are eager to identify how a bilingual community bank for Wales can work, ensuring the population of Wales has easy access to financial services. Mark Hooper from CCL said: ‘Monmouthshire Building Society are a perfect fit for Banc Cambria. As a modern mutual, their focus is on supporting communities and delivering value to members. Working with the team at the Society, it is clear they are a brand to trust in the marketplace and we are confident the values we have developed will be in safe hands with them.”