Northern Community Bank officially celebrated the opening of its transformed £2.5m Burnley branch this month by welcoming more than 60 guests for an evening recognising the power of community banking, partnership and investment in the future.
Councillors, neighbouring credit unions, contractors who helped deliver the project, volunteers, community partners and staff gathered at the Manchester Road branch to celebrate a milestone in the organisation’s 44-year history.
The larger, modern branch has been designed to make managing money easier and more accessible for everyone, whether account holders choose to use the Northern Community Bank app, online account, telephone banking or visit the branch in person, says the lender.
Alongside a banking hub, the three-storey building includes dedicated spaces for collaborating with community partners, a purpose-built training room and modern working environments that support staff and account holders.
Guests also heard congratulatory speeches from Burnley Council CEO Lukman Patel and Burnley MP Oliver Ryan.
“It is fantastic to see such a significant investment in the heart of Burnley,” said Patel. “The quality of the workmanship and attention to detail throughout the building is exceptional and complements the wider public sector investment taking place across our town centre.”
Ryan spoke passionately about the importance of accessible, ethical finance and the positive impact the new branch will have on local communities. He said: “Looking around this welcoming branch, the vision described by CEO Kathryn Fogg and her team has been delivered and will benefit people in the community.”
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Reflecting on the organisation’s remarkable journey, bank president Gerard Spain reminded guests that the organisation began in 1982 when just 15 savers contributed a combined £75 to establish the credit union. For its first 15 years, it operated entirely through volunteers from a church hall, with no permanent premises, telephone or internet connection.
He also highlighted the significant progress made in recent years. Since 2021, assets have increased from £15m to £28m, savings have grown from £13m to £21m and the number of account holders has risen from 12,000 to more than 17,500.
“This is a very proud moment for us all and one which ties in perfectly with the huge rebranding project we have undertaken,” Gerard said. “It’s been a very interesting two years, but today proves that all of the hard work has been worth it.
“This is a truly remarkable story which we should all be extremely proud of, and a very good reason why we were able to pay for this fantastic development using our own funds, without requiring any external funding.”
“This is a story for all our community, the staff, board and account holders. This building typifies where we have come from and what we have achieved.”
The bank’s CEO Kathryn Fogg began the evening by thanking everyone who had contributed to bringing the project to life, including contractors, volunteers, staff and community partners.
“We started in humble surroundings, and we’ve got this wonderful new building now,” she said. “But inside, we’ve not changed. We’re still the same ethical organisation. We’re a financial co-operative. Our account holders are at our heart. They own Northern Community Bank, and everything we do is for them. We’d love people to come in, say hello to the team and see what community banking is all about.”
Remarking on the opening event, All Together Money CEO, Matt Bland said: “We stand on the threshold of transformation and growth as a sector, and this is what it looks like. The team, led by the inspirational Kathryn Fogg, has established a modern, welcoming hub for the community and a fantastic base from which to serve members across the North West of England.
“What better demonstration could there be of what can be achieved when a community comes together, driven by co-operative values. A true credit union success story.”
