Business Details
25 Years
experience
Your Trusted Ethical Bank in Central Southern England
Portsmouth Savers Credit Union was established in 2001 with a clear mission to provide ethical financial services that benefit both members and communities across Central Southern England. As a member-owned cooperative, we operate without external shareholders, reinvesting all surpluses into competitive loans, rewarding savings, and community development initiatives. Our innovative Cashback Loan model transforms borrowing into a pathway for financial resilience by integrating tailored savings contributions into every repayment. With a strong focus on financial inclusion, we offer fair access to credit for individuals across all income levels while maintaining robust financial stability.Our Foundation Fund channels grants to grassroots organisations, supporting local projects that create lasting social impact. Backed by over two decades of experience and regulated by the Prudential Regulation Authority and Financial Conduct Authority, we combine digital innovation with personal service through our Hampshire-based team. Our commitment to ethical banking is demonstrated through fee-free community accounts, transparent practices, and a capital ratio three times regulatory requirements, ensuring long-term security for our members.
Services
Personal Loans
Cashback Loans
Instant Access Saver
Christmas Club
Cash ISA
Community Group Accounts
Budgeting Accounts
Foundation Grants
Details
- Year established: 2001
Highlights and features
- We offer guaranteed lower loan rates than top ten high street banks
- Our Cashback Loan builds savings habits while repaying debt
- We provide fair credit access for all income levels including Universal Credit recipients
- We maintain a capital ratio three times regulatory minimum requirements
- Our Foundation Fund distributes quarterly community grants to local organisations
Associations and certifications
- Prudential Regulation Authority
- Financial Conduct Authority
What people say
Competitive loan rates
Excellent customer service
Community-focused banking
Transparent practices
Financial resilience support
Services
Personal Loans
We offer personal loans from 500 to 5,000 with guaranteed lower rates than high street banks. Our loans assess affordability through human review rather than automated scoring. Borrowers benefit from no early repayment charges and integrated savings contributions that build financial resilience.
Cashback Loans
Our unique Cashback Loan combines borrowing with savings, allocating part of each repayment to a dedicated savings account. This innovative approach helps members establish saving habits while accessing credit. Borrowers finish with a ready-made savings pot, transforming debt into financial security.
Instant Access Saver
This savings account offers immediate access to funds with a minimum balance of 1 and maximum of 45,000. Designed for emergency funds or short-term goals, it provides same-day withdrawals before 3pm. The account earns targeted dividends based on our financial performance.
Community Grants
Our Foundation Fund distributes quarterly grants to grassroots organisations across our region. These small but impactful awards support local projects that create social value. Eligible groups can apply for funding to support community initiatives and charitable activities.
Christmas Club
This annual savings account helps members spread Christmas costs throughout the year. With flexible deposits between 1 and 10,000, funds become available on 1st November. The account can be paired with an affordable Christmas loan that also builds savings.
People
Gary Moran
Chief Executive Officer
Gary leads our strategic direction, bringing extensive experience in cooperative finance. He oversees our commitment to ethical banking and community development while maintaining financial stability. Gary ensures our operations align with member interests and social objectives.
Dave Smith
Content Manager
Dave manages our communication strategy and content creation. He ensures clear, accurate information about our services and community initiatives reaches members and stakeholders. Dave contributes to our educational resources and financial literacy efforts.
Questions
What makes Wessex Community Bank different from high street banks?
We're a not-for-profit cooperative bank that reinvests surpluses into competitive loans, savings, and community grants. We have no external shareholders and focus on local financial resilience.
Can I get a loan if I have a poor credit history?
We assess applications individually, considering recent conduct and responsible financial behaviour. We may help those with CCJs or impaired credit if they demonstrate repayment capability.
How do the Cashback Loans work?
Every repayment includes a tailored savings contribution. Borrowers finish with a savings pot while clearing their loan, building financial resilience through responsible borrowing.
Are my savings protected?
Yes, eligible deposits up to £85,000 are protected by the Financial Services Compensation Scheme. Our capital ratio exceeds regulatory requirements threefold for enhanced security.
How can local groups access funding?
Community organisations can apply for quarterly grants through our Foundation Fund. We support grassroots projects across our region with small but impactful cash injections.
What digital banking options are available?
We offer online and mobile banking with telephone support. Our digital-first approach includes secure access to accounts, transfers, and loan applications while maintaining personal service options.