Business Details
25 Years
experience
Your Trusted Community Bank for Ethical Savings and Loans
Hampshire Credit Union, established in 2001, is a member-owned cooperative bank dedicated to ethical finance and community empowerment. As a not-for-profit institution, we reinvest surpluses into competitive loans, rewarding savings, and community grants, serving Hampshire and surrounding areas including Portsmouth, Southampton, and Bournemouth. Our unique Cashback Loan model transforms borrowing into a pathway for financial resilience, combining loan repayments with tailored savings contributions. Governed by a one-member, one-vote system, we prioritise local needs over shareholder profits, maintaining strong capital reserves and ethical investments.Our foundation fund allocates 25% of assets to support financially excluded individuals and provides quarterly grants to grassroots organisations, fostering social impact across Central Southern England. With a digital-first approach and a debt-free structure, we combine innovation with sustainability, ensuring fair access to finance for all community members.
Services
Personal Loans
Instant Access Saver
Christmas Club
Cash ISA
Community Group Accounts
Budgeting Accounts
Savings Accounts
Details
- Year established: 2001
Highlights and features
- We offer guaranteed lower loan rates than high street banks up to 5,000
- Our Cashback Loan builds savings habits with tailored repayment splits
- Quarterly community grants support local grassroots organisations
- Debt-free with triple regulatory capital requirements for security
- Member-owned cooperative with transparent, ethical investments
Associations and certifications
- Prudential Regulation Authority
- Financial Conduct Authority
What people say
Fast loan processing
Friendly staff
Uncomplicated service
Community focus
Quick decisions
Services
Personal Loans
We offer guaranteed lower-cost personal loans up to 5,000 compared to high street banks. Our Standardplus Loan includes no early repayment charges, 3-month payment holidays, and integrated savings. Loans are assessed manually by experienced staff to ensure fair access for all applicants regardless of income level.
Instant Access Saver
This savings account allows deposits from 1 with same-day access before 3pm. Funds support local community projects while maintaining FSCS protection up to 85,000. Dividends are paid quarterly based on our financial performance, offering competitive returns with ethical investment.
Cashback Loan
Our unique product combines borrowing with savings, allocating part of each repayment to build a personal savings pot. Borrowers receive tailored payment splits to ensure affordability, with examples showing 400 savings built from a 2,000 loan over 24 months while maintaining lower APR than major banks.
Community Grants
Quarterly grants support grassroots organisations across our service area. The Foundation Fund allocates at least 25% of assets to financially excluded individuals and community projects. Recent recipients include youth groups, disability support organisations, and local sports teams, with application processes designed for accessibility.
Christmas Club
This annual savings account helps spread Christmas costs with automatic monthly contributions. Members earn a 1% AER bonus while building a guaranteed 10,000 savings pot available from November 1st. The account can be paired with affordable Christmas loans that also build savings simultaneously.
Questions
What makes Wessex Community Bank different from high street banks?
We're a not-for-profit cooperative bank with no external shareholders. Surpluses fund community grants, ethical lending, and member dividends. Our Cashback Loan model builds savings while repaying loans.
Can I get a loan with bad credit history?
We assess applications individually, considering recent conduct and responsible financial behaviour. While we can't guarantee approval, we may help those with CCJs or impaired credit if recent activity shows improvement.
How do community grants work?
Our Foundation Fund provides quarterly grants to local grassroots organisations. Applications are reviewed by our committee, with priority given to volunteer-led groups demonstrating clear community impact and financial need.
Are savings protected?
Yes, eligible deposits up to £85,000 are protected by the Financial Services Compensation Scheme. Our capital ratio exceeds regulatory requirements by three times, ensuring strong financial stability.
What digital banking options exist?
We offer online and mobile banking apps with telephone support. Features include instant transfers, account management, and loan applications. Our digital-first strategy balances technology with personal service availability.