A locally rooted bank which is committed to people not profit has become the 12,000th organisation to sign the Armed Forces Covenant (AFC).
The Armed Forces Covenant is a promise that together all signatories of the Covenant acknowledge and understand that those who serve or have served in the Armed Forces, and their families, should be treated with fairness and respect in the communities, economy, and society they serve with their lives.
The Covenant focuses on helping members of the Armed Forces community have the same access to Government and commercial services and products as any other citizen. This support is provided in a number of areas including healthcare, education and childcare, housing and accommodation, employment and financial services.
Northumberland Community Bank signed the Armed Forces Covenant along with Wing Commander Helen Smyth who co-signed on behalf of the Ministry of Defence (MOD), with the signing facilitated by North Tyneside Council, Employer Recognition Scheme Gold Award holder, and fervent advocate for the armed forces community.
Northumberland Community Bank was launched in 2017, after the fusion of the Credit Union for South East Northumberland and Tynedale Community Bank. The community bank works on a membership-based system and aims to offer a sustainable source of lending for individual and SMEs.
Through signing the Covenant, Northumberland Community Bank has made a pledge to the armed forces community that no one from the armed forces community should face disadvantages arising from their service, to promote the armed forces and the benefit they bring to organisation and to engage with local armed forces presence, for example, through participation to local reservist unit’s events.
Scott Wilson Laing, CEO of Northumberland Community Bank, said: “It was a surprise to learn that we were the 12,000th signatories of the Armed Forces Covenant. Signing the AFC is our pledge to support the community at the local level and to expand our reach in providing support to the armed forces community.
We’d like to thank you our regional liaison officer and sponsor for guiding us through this process and we will continue to show our support to the armed forces community.”
Wing Commander Helen Smyth, co-signatory of the AFC on behalf of the MOD, said: “It is a pleasure to be the co-signatory for the 12,000th Armed Forces Covenant signing. This is my first AFC signing as a co-signatory which makes it even more significant for me and I am proud to be involved with this signing.
Having companies support our military community is incredibly important and as an ex Regular (and now Reservist) I have experienced this support first hand. Whether it be support for a veteran, military spouse, reservist or adult cadet force volunteer, knowing that there are organisations who actively support the armed forces community makes a real difference.
Please do not underestimate how important this signing is; the armed forces community hugely appreciates this. Employers have nothing to lose by signing the Armed Forces Covenant and everything to gain by taking this extra step.”
Darren Rhodes, Regional Employer Engagement Director for the North of England, said: “The North of England Employer Engagement team is proud and privileged to be able to celebrate with one of our region’s companies after they were identified as the 12,000th national Armed Forces Covenant signatory. Northumberland Community Bank were equally delighted.
As a ‘for people, not profit’ business they provide a sustainable and safe form of lending to those in need. We salute you and congratulate you as you mark this milestone.”
Unlike traditional banks, Northumberland Community Bank is a financial co-operative, which means they don’t have external shareholders, and instead they are owned by their members, and they play a crucial role in how the bank is run. This ownership structure ensures that the banks decisions are made with the community’s best interests in mind.
Scott added: “Our commitment to supporting both serving and ex-serving personnel is very important to us. We are also dedicated to helping the armed forces community achieve financial well-being and ensuring they have support at a local level.”
Working with key partners and a core group of businesses as part of their payroll partnerships such as Bernicia, Northumberland County Council and Northumbria Water the team at Northumberland Community Bank currently support thousands of people from across the North East. Their ethos results in a tangible, positive impact on the lives of members and Northumberland Community Bank are seen as a trusted partner in the community, offering a helping hand when needed the most.