Castle Community Bank

Castle Community Bank, a credit union for saving and borrowing

Castle Community Bank is a credit union registered in the United Kingdom that presents itself as an alternative to traditional banking for saving and borrowing. Its proposition is built around the idea that the institution belongs to its members and not to external shareholders, which, according to its own description, creates a shared financial community across the country.

The institution was formed in late 2015 following the merger of two established credit unions, Castle and North Edinburgh, together with the members of the Water of Leith Credit Union Study Group, created to promote the establishment of a credit union in Leith.

Personal loans and savings accounts

The product range is divided into two main areas. In personal loans, the institution offers financing for various purposes, from a wedding to buying a household appliance, with the premise of applying prices and terms it describes as fair. In savings, it offers accounts that can be arranged online or by phone, aimed both at building a fund for unexpected events and at accumulating money in the medium and long term, and includes fixed-rate savings accounts for those seeking higher returns.

One feature the institution highlights compared with other credit unions is that it does not require prior savings to apply for a loan. Among the examples of amounts it mentions is a £7,000 loan to renovate a kitchen.

Accessibility, fair pricing and ethical banking

The credit union organises its activity around three criteria it calls accessibility, affordability and applicability. In practice, this translates into service channels available 24 hours online, in person at a branch and by telephone during the day; into loans at rates it describes as affordable and granted responsibly; and into a varied offering adapted to its members' needs.

On the ethical side, the institution states that it does not invest in the stock market for profit and does not charge arrangement fees on loans. It also declares its intention to promote financial inclusion and combat financial exploitation, with the aim of being a financially sound and sustainable organisation that generates economic and social benefits for those who live or work in the 'EH' postcode area.

Regulation, guarantees and partner organisations

Castle Community Bank operates as a credit union registered under the Credit Unions Act 1979 and is authorised by the Prudential Regulation Authority (PRA). Its activity is supervised by the Financial Conduct Authority (FCA) and the PRA, and it appears on the FCA register under reference 213877. The institution is covered by the Financial Services Compensation Scheme and the Financial Ombudsman Service.

The credit union is part of the Community Finance Network, a network of responsible lenders, and presents itself as a provider of FairLife, a charity that works with consumers and the financial sector to improve everyday financial products and services. It also works with My Community Finance, which carries out various member servicing activities on its behalf, although the institution specifies that savings accounts and loans remain with Castle Community Bank.

Leadership team

The institution details the composition of its leadership. Stephen Pearson serves as chair; he is a lawyer by training, a former banking sector executive and a well-known advocate for financial inclusion, an area in which he chairs Financial Inclusion for Scotland and the organisation Leuchie House. Stuart Porteous has been chief executive officer since May 2026, after joining in October 2024 as risk director; he has more than 25 years in financial services and has held senior positions at NatWest Group. The board is completed by Douglas Reid, a lawyer and charity trustee; Kevin Mountford, with three decades of experience in British financial institutions and in the fintech sector; and Mary Jane Brouwers, with a long career as a non-executive director and in early-stage investment.

Resources and information for members

The credit union's website brings together documentation and useful tools for its members, such as the membership terms, savings account interest rates, the social impact report, the annual accounts, information about the 2025 annual general meeting and a budget planner. It also includes specific sections on fraud prevention, debt management and making complaints, as well as a news area and the institution's contact details.