A Community Bank is a profit sharing, democratically run financial co-operative which offers convenient savings and low interest loans to its members. The members own and manage their bank themselves.

The three main aims of a Community Bank are:

• To encourage its members to save regularly.
• To provide loans to members at very low rates of interest.
• To provide members with help and support on managing their financial affairs (if required).

• Easy withdrawals and payments using the PCB Debit Card
• Make deposits by standing order or bank transfer
• Loans allow you to borrow when you need
• No set-up fees, No early repayment fees
• Your savings help to benefit other members
• We have no shareholders to pay
• We concentrate on providing a good service
• PCB is owned by our members

Members save with their community bank and create a communal pool of money available to be used for providing loans to other members. Interest charged on loans to members generates an income for the community bank.

Any additional savings not lent out to members can be invested to return a further income to the community bank. From this income, the community bank pays any operational expenses.

Any remaining income is referred to as the community bank surplus and funds the dividend paid on members’ shares and/or is directed to improved or additional services for members. Community banks may also choose to pay a loan interest rebate, which is a refund of loan interest paid to all members who borrowed during the preceding financial year.

All members must share the ‘common bond’ which is an association with the Pentecostal Church Movement in Great Britain.