Wave Community Bank Reports Record Growth and Impact in 2025 Social Impact Report

Friday 1 August 2025

Wave Community Bank (WCB) has reported record levels of growth, lending, and member engagement in its newly published 2025 Social Impact Report. The report reveals that the credit union’s loan book reached £4.7 million by May 2025, with £2.5 million lent during 2024 – the highest levels of lending in its history.

The Brighton-based credit union continues to expand its reach and services across its common bond, with plans for further growth already underway.

“At Wave Community Bank, we believe in putting people before profit — and our 2025 Social Impact Report shows exactly what that means in action,” said a WCB spokesperson.

A key driver of WCB’s success has been the expansion of its Chorus workplace savings and loans scheme, which enables members to save and borrow directly through their payroll. The number of members using Chorus increased by 45% between January 2023 and December 2024, while lending via payroll grew by 105% over the same period. The payroll loan book now stands at over £1.5 million, demonstrating growing demand for accessible financial products in the workplace.

A major development in 2024 was WCB’s merger with Kent Savers Credit Union, completed in February, which saw more than 5,000 new members join the credit union. The merger enabled continuity of service for members in Kent and expanded WCB’s reach across the region.

To support a smooth transition, WCB delivered a communications programme including a dedicated webinar, helping newly joined members understand the full benefits and services available. The credit union’s total membership grew by 59% in 2024, reflecting a combination of merger-related and organic growth.

In a further sign of progress, WCB members voted at the September 2024 AGM to expand the credit union’s common bond to include the London Borough of Bexley. This means WCB can now serve the full area previously covered by Kent Savers and is actively working to attract and support new members in Bexley.

The 2025 report also highlights strong member satisfaction: 88% of members said they were likely or extremely likely to recommend WCB, and 91% said they felt treated fairly. Membership has surpassed 15,000, with total savings reaching £5.8 million and total assets now at £6.7 million.

Looking ahead, WCB reaffirmed its commitment to serving members with integrity and compassion.

“As we look to 2026 and beyond, our mission remains the same: to serve our members with compassion, trust, and practical support. Whether it’s your first savings account or help through a financial crisis, we’re here for you.”

Read the full report on the Wave Community Bank website: Building Brighter Futures: Our 2025 Social Impact Report