It's about trust both ways. We believe that for mutual trust to exist the interests of the Bank and its members must be aligned, members must know that the Bank will act benevolently for them and that the Bank can demonstrate consistently high levels of competence in what it does and how it does it.
To help make this work, each bank will be autonomous, owned by its members, only operate in its own region and will be run on the principle of one member one vote. Democratic, accountable, aligned.
Members will elect the Board of directors and set their pay and conditions.
To open an account or get a loan from the the bank, you will have to become a member. Membership will be open to any resident who meets the residency qualification irrespective of the income they may generate for the Bank. Resident means an individual who lives in the region. Companies and organisations with significant financial or commercial interest in the region. Local authorities or charities or community groups which have a meaningful involvement within the region.
Membership brings both inclusion and responsibility.