Northumberland Community Bank Becomes 12,000th Organisation to Sign the Armed Forces Covenant

Thursday 22 August 2024

Northumberland Community Bank was launched in 2017, after the fusion of the Credit Union for South East Northumberland and Tynedale Community Bank. The credit union has committed to its locally rooted support by becoming the 12,000^th organisation to sign the Armed Forces Covenant (AFC).

The Armed Forces Covenant is a promise that together all signatories of the Covenant acknowledge and understand that those who serve or have served in the Armed Forces, and their families, should be treated with fairness and respect in the communities, economy, and society they serve with their lives.

The Covenant focuses on helping members of the Armed Forces community have the same access to Government and commercial services and products as any other citizen. This support is provided in a number of areas including healthcare, education and childcare, housing and accommodation, employment and financial services.

Through signing the Covenant, Northumberland Community Bank has made a pledge to the armed forces community that no one from the armed forces community should face disadvantages arising from their service, to promote the armed forces and the benefit they bring to organisation and to engage with local armed forces presence, for example, through participation to local reservist unit’s events.

Scott Wilson Laing, CEO of Northumberland Community Bank, said: “It was a surprise to learn that we were the 12,000th signatories of the Armed Forces Covenant. Signing the AFC is our pledge to support the community at the local level and to expand our reach in providing support to the armed forces community.

“We’d like to thank you our regional liaison officer and sponsor for guiding us through this process and we will continue to show our support to the armed forces community.”

Darren Rhodes, Regional Employer Engagement Director for the North of England, said: “The North of England Employer Engagement team is proud and privileged to be able to celebrate with one of our region’s companies after they were identified as the 12,000th national Armed Forces Covenant signatory. Northumberland Community Bank were equally delighted.

As a ‘for people, not profit’ business they provide a sustainable and safe form of lending to those in need. We salute you and congratulate you as you mark this milestone.”

Unlike traditional banks, Northumberland Community Bank is a financial co-operative, which means they don’t have external shareholders, and instead they are owned by their members, and they play a crucial role in how the bank is run. This ownership structure ensures the decisions made are within the community’s best interests in mind.

Scott added: “Our commitment to supporting both serving and ex-serving personnel is very important to us. We are also dedicated to helping the armed forces community achieve financial well-being and ensuring they have support at a local level.”