27th March: available here from 4.00pm
Community banking is an alternative approach to banking as we know it, moving away from the privatised system that exists now and towards a democratised system that gives each of us a say in how our money can be used.
At present, our money, in the form of incomes, savings, pensions, economic activity and public budgets is largely controlled by private interests and is invested elsewhere. A community bank, owned and controlled by the people who live here, would allow individuals, communities, businesses and public sector bodies to have control over this vast wealth and ensure it’s used for our benefit.
The Community Savings Bank Association was established in 2015 and its purpose is to help set up a network of 18 regional co-operative banks across the UK with a mission to serve all people on equal terms and to focus on honest and transparent savings, loans and banking services for SMEs, community groups and households of ordinary means. By providing the back office functions and regulatory frameworks to operate a bank – a ‘bank in a box’ – this model allows smaller regional banks to stay close to their customers while also enjoying the cost efficiency advantages of national scale.
Bridget Meehan, supported by Co-operative Alternatives, is the voice for the campaign in Northern Ireland.
Paul Gosling, author of The Fall of the Ethical Bank, closely followed the demise of the Co-operative Bank, and often comments on the economy of the region.
A longer version of this video, with a Q&A, will be available on Co-operative Alternatives’ website shortly (link below).
Find out more: coopalternatives.coop