How we’re shaping the future of community finance
We offer a different kind of financial service – one built on trust and fairness, with a community at its centre.
We’re a not-for-profit, locally rooted and run for real people, not shareholders. That means every penny is used to support our members and the places they live in.
Community finance supports this – ensuring help is always available and that people and local communities always benefit.
But what is community finance? Why does it matter? And what makes Beacon different?
What is community finance?
Community finance does what it says on the tin – providing financial support for people, but with a focus on the whole community benefiting.
Credit Unions are one provider that focuses on this idea – offering accessible loans and ethical savings plans for individuals and families.
This approach creates a hub for support and advice, something some groups rely on.
Community finance matters more than ever
For many people, savings are a peace of mind and breathing space. A way to plan for the future, not just get through the week.
That’s why community finance matters. It’s a lifeline for individuals that also comes with benefits for the wider community.
In fact:
- 2024 reports found 6.7 million people in the UK were in financial difficulty
- More than nine million adults in the UK were declined for credit between April 2022 and April 2023
- More than a quarter of UK adults turned to high-cost lenders after being rejected by other providers
If this continues, it could lead to long-term financial instability for many more people. In some instances, people may feel they have no place to turn. But that should never be the case.
Community finance providers are a viable solution to this problem. A safety net to help people feel in control and supported.
In 2023, community-focused lenders helped households save a total of £29 million in interest compared with borrowing from high-street banks.
Finance should feel like support, not pressure. Whether it’s a loan to get you through difficult times or a savings plan that meets your needs. Community finance providers make sure no one gets left behind.
What makes Beacon different?
We’re shaping the future of community finance by staying true to what’s always mattered – people.
At Beacon, our community is everyone who lives or works within our common bond.
We’re built around fairness and inclusion. Offering accessible savings plans that not only help you but also support affordable credit for our members.
Here’s how:
- Local investment for local growth
When you save with Beacon, your money doesn’t disappear into the pockets of distant shareholders. It stays local, supporting the people and places around you.
Your savings help provide affordable credit for others and fund projects that make our communities stronger.
As a not-for-profit, we use our extra funds to help those around us – supporting local groups, holding events and much more. Through our partnership with Just One Tree, we sponsor the planting of a tree for every new member who joins us. As our community grows, so does our forest – which stands at over 350 trees.
Financial growth that benefits a community starts with local investment.
- Financial access that changes lives
Far too often, individuals are excluded from high-street banks because they don’t fit the perfect criteria. High-interest lenders and hidden fees can also make tough situations worse.
We do things differently.
From fair, flexible loans to tailored savings plans, we meet people where they are – not where a biased online system thinks they should be. Whatever you’re looking to achieve – whether it’s rebuilding credit, saving for a first home or just trying to make ends meet – we’re here to help.
By keeping things clear and judgment-free, we give people a real opportunity to move forward.
- Innovation with purpose
Technology should make finance easier, not harder.
Our mobile banking app and online knowledge hub help members manage their money with confidence, anytime and anywhere. We still understand the value of real conversations, though. Our team is always on hand, whether it’s on the phone or in our Runcorn or Widnes branches.
We use modern tools in combination with a personal touch, so members never have to choose between the two.
- Members at the heart
A bank has customers. We have members.
That means every voice counts, and every decision we make is shaped by the people we serve.
You can weigh in at our Annual General Meeting (AGM), share your thoughts through member surveys, or drop us a line anytime. Where your money lives really does matter. With a credit union, your money works for you and everyone around you, not some distant investors.
A better future, built together
Community finance is about building a fair, accessible future where no one gets left behind.
We’re proud to be part of that future. Owned by our members and rooted in our community, with a focus on what matters – helping people feel supported with their finances.
Join us and become a part of the future of community finance.
