Local First is assisting with the implementation of a community banking model across the UK. By international comparison, the UK banking sector is unusually highly concentrated, with the top five banks accounting for over 90% of deposits. The problem of high concentration and lack of meaningful competition has been recognised over the past century by numerous banking commissions and official government reports, yet until now no solution had been found. The solution is to introduce a different type of banks that operate differently and are dedicated to the local community. This values-based banking proposition will support SMEs by placing emphasis upon ‘productive’ lending, thereby stimulating the ‘real’ economy and creating local jobs. A virtuous cycle of growth is formed when a local, SME-orientated bank offers customer-centric, relationship-based banking services, with no bonus culture to misdirect staff intentions.
Please contact us if you wish to assist us in achieving our UK banking revolution!

We strong believe that banking should be about trust, what we call relationship banking. The customer knows the bank, the bank knows the customer. People should be put first, not targets or profits. Friendly and personal face-to-face customer service and genuince advice in the interests of the customer should be the staff's main concern. Traditional banking at its best.

The banking system of a nation will ultimatively shape its economy. In the UK it becomes harder and harder for small firms to get credit from larger banks for whom it is not attractive to lend to local small-scale businesses. For a thriving and more sustainable local economy, small and locally headquartered banks are needed.