Local credit union changes its name

East Sussex Credit Union has changed its name to Wave Community Bank to promote what it does more clearly and attract more and younger customers to the member-run co-operative.

The bank, a local co-operative which is run by its members, provides ethical, affordable loans, savings accounts and basic bank accounts to people living or working in East Sussex, Brighton and Hove.

It promotes savings and sensible borrowing and provides budgeting and debt advice. Any profits are returned to its members as a dividend or reinvested in accordance with its co-operative principles to help combat poverty in the community.

CEO Ann Hickey says: “We’ve been a credit union for 21 years, and felt that it was time to update our look and represent ourselves in a way that more people within the community would understand. The idea of a credit union can seem outdated, and by naming ourselves as a community bank, it centralises our true values of community.

We chose Wave as it has a link to the sea and 91% of our existing members live in coastal towns in East Sussex or the city of Brighton & Hove. “

Find out about Wave Community Bank’s services and becoming a member here:  https://wavecb.org.uk/

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