Preston has been chosen as one of the locations for NW Mutual branches, offering a mutual bank service for retail and business customers in the North West of England.
NW Mutual Ltd has revealed Preston as one of its locations for approximately 60 proposed branches spanning the region.
Dave Burke, CEO, of NW Mutual, said:”Our market research, supported by a large body of public research and information, shows a proven need and demand for a bank that’s trustworthy, democratic, ethical, deeply rooted in the North West and that enough people and businesses in the region would use to make it a great success.”
Having already registered NW Mutual Ltd with the Financial Conduct Authority, Burke is preparing a banking licence application to submit to the Bank of England in late 2025.
If the licence is granted by the Bank of England, the first bricks and mortar branch is planned to open in the third quarter of 2026.
