Journal of Co-operative Studies 54(3), 58-66

Abstract

This paper takes as its starting point a report produced by Cambria Cydfuddiannol Ltd, a registered co-operative society working to launch a community bank for Wales. It draws also on a report to the Welsh Government by the Public Policy Institute to detail the development of Banc Cambria from the early exploration of the idea of a publicly owned bank in 2016, based on the work of Ellen Brown and the bank of North Dakota, through a policy development process that has led to the adoption of a mutual ownership model with the support of the Community Savings Bank Association. It chronicles some of the work done to gather the support of key Welsh Government Ministers and the financial and policy support of Welsh Government to progress the project, as well as political support from all the main parties represented in the Welsh Senedd. The initial idea for Bank Cambria came from the People’s Bank for Wales Action Group (PBWAG) and the paper represents a summation of the learning so far; at the time of writing, some of the more detailed work undertaken or in progress remains commercially sensitive and cannot be shared publicly and is therefore not included in this paper. 

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