December 2, 2015
The future of banking is in the past
There were several highlights at the recent SCRT conference on social finance. Insights into entirely different ( and healthier) banking environments that seem to operate in Germany and Australia were fascinating. Most inspiring of all was the presentation from the CEO of the UK’s last remaining independent savings bank. Based on the principles of mutuality, and with a strong ethos of community service, Airdrie Savings Bank sounds like a throwback to a byegone era. But ASB believe their time has come and they have big ambitions. Anyone like to see a Community Savings Bank in their town?
by Airdrie Saving Bank
INDEPENDENT LOCAL BANKS WORKING FOR, CONTROLLED BY AND ANSWERABLE TO THEIR CUSTOMERS
This is not a new idea. This is a very old idea. This is a good idea, updated for today’s world and learning from yesterday’s mistakes. We want to create a UK-wide network of customer-owned, regional banks to serve the every day financial needs of ordinary people, local community groups, and small and medium sized companies.
Local savings used to make local loans – creating and storing wealth in each region, held in trust for the benefit of the current members and those that come after them.
to see a short animation which illustrates this idea click here