Wave Community Bank is celebrating a strong year of growth, with record-breaking figures that show the real difference ethical finance is making across our communities.
Over the past 12 months, more people than ever have chosen to join us, save with us and borrow from us in a way that is fair, affordable and supportive.
This year’s highlights include:
- 1,588 new members joining Wave Community Bank
- £3.44 million in new loans issued
- Over £1 million lent to members repaying through payroll
- Our total loan book reaching a record £5.55 million
These are all new record numbers for the credit union, but behind each one is a person, a family or a household feeling more in control of their finances.
We have also seen continued growth in our Workplace Savings Scheme, now working with 42 employer partners. This gives more employees access to financial wellbeing support, as well as lower interest rates on loans. It also helps take the stress out of managing money, with repayments and savings coming directly from wages in a simple and manageable way.
As a not-for-profit, member-owned organisation, our growth is different. Every pound saved is used to support another member through an affordable loan, keeping money within the community and helping more people avoid high-cost credit.
This past year shows that demand for fair, ethical financial services continues to grow. It also shows that when people are given the right support, they can build resilience, reduce financial pressure and plan more confidently for the future.
Wave Community Bank’s growth is something shared by all of our members and partners. Together, we are proving that a community-focused approach to finance works – and that it can make a lasting difference to people’s lives
