Community Savings Bank Association (CSBA)

COMMUNITY SAVINGS BANK ASSOCIATION - CSBA

The CSBA exists to rebuild a network of independent, customer owned, local banks in the UK. Creating a local bank is not for the fainthearted. The expertise needed, the complexity of the process and the considerable costs have put many people off.

We have made it easier, simpler, less risky, quicker and cheaper for each region to setup its own customer-owned bank. We've done this in three ways.

Firstly, we have the complicated legal, constitutional, governance, financial and business plans ready and available to be used to start the process of applying for a Banking License.

Secondly, we've negotiated lower fees than an individual would achieve with financial and legal advisers. Similarly with the key equipment suppliers.

Finally, and most importantly, we’re working in partnership with the only independent savings bank in the UK, Airdrie Savings Bank, and will use its banking DNA and IT systems to create the new banks. This reduces the risks, timescale and costs involved compared to starting from scratch. It still won't be easy but it will be easier.

When the local banks are up and running they will own and control the CSBA, work together to keep cost down and develop their futures.