Monmouthshire Building Society’s Withdrawal Derails Welsh Government’s Community Bank Project

…By Alan Peterson for TDPel Media.

This development has raised concerns about the feasibility of delivering the bank before the Senedd elections in 2026.

CCL, supported by £165,000 in funding from the Welsh Government, aimed to establish up to 30 physical branches across Wales, supplemented by a digital offering.

Carroll emphasized the building society’s commitment to providing successful and sustainable community banking services for the people and communities of Wales.

Some civil servants have privately expressed reservations about the merits of the community bank project.

Specific bank staff will also be available on designated days to address customer issues and other banking matters.

Active engagement with CCL will continue towards this objective.