Forex
North West Mutual Bank Advances Plans for Regional Co-Operative Bank
A regional co-operative bank is moving closer to opening in Lancashire, UK. North West Mutual Bank has submitted a formal banking licence application to the Bank of England after securing backing from Preston City Council earlier this year.
The bank plans to become the UK's first regional co-operative bank, serving both retail and business customers across the North West. It aims to offer a 'bricks, clicks and flicks' model, combining high-tech and staffed branches with mobile and online banking services.
The bank will be headquartered in Preston, where it will create approximately 40 new jobs initially, with up to 200 roles anticipated across the North West as it expands. Recruitment for the first roles is expected to begin later this year.