NW Mutual, which will support retail and small business customers in the North West of England, has unveiled Penrith as one of the locations of its 60 proposed branches.
The network of potential branches includes 16 in Lancashire, more than 20 in Greater Manchester, 12 in Liverpool and Merseyside, ten in Cheshire and six in Cumbria.
The six proposed locations for branches of NW Mutual in Cumbria are Penrith, Barrow-in-Furness, Carlisle, Kendal, Keswick, Whitehaven.
The proposed 'bricks, clicks and flicks' business model of NW Mutual will deliver staffed branches, complemented by mobile and online banking, providing retail and SME customers with a full range of financial products and services.
The bank's headquarters will be led by senior financial services executive Dave Burke. The location of its HQ is yet to be confirmed, but will be in the North West - potentially Preston - and is set to open in Q2 2025.
Burke said: "When our plans are finalised, NW Mutual will open approximately 60 branches across the North West, with the first branch and head office also in the region.
"Our aim is to provide access to as many people and businesses in the North West as possible, with 95 per cent of residents and small and medium-sized businesses within a 30-minute drive to a branch.
"Whilst we have specific locations in mind to achieve this, we also want to listen to the people and businesses of the region and welcome thoughts and suggestions on branch locations."
NW Mutual Ltd is a co-operative society launched in response to more than 50 per cent of traditional bank branches in the region having closed, and the lack of banks based in and dedicated to serving the people, business and organisations in the region.
Burke added: "Our market research, supported by a large body of public research and information, shows a proven need and demand for a bank that's trustworthy, democratic, ethical, deeply rooted in the North West and that enough people and businesses in the region would use to make it a great success.
"The North West is more than capable and large enough to create and sustain a prosperous bank. When we achieve our goals, our mutual bank will recycle more than £900m of money from the North West back into the region."
Having already registered NW Mutual Ltd with the Financial Conduct Authority (FCA), regulator of financial services firms and markets in the UK, Burke is preparing a banking licence application to submit to the Bank of England in late 2025.
The 60 proposed locations for branches of NW Mutual are:
Lancashire: Preston (head office), Accrington, Blackburn, Blackpool, Burnley, Clitheroe, Chorley, Lancaster, Leyland, Lytham St Annes, Morecambe, Nelson, Rawtenstall, Fleetwood, Garstang, Skelmersdale.
Greater Manchester: Altrincham, Ashton-under-Lyne, Bolton, Bury, Droylsden, Eccles, Hyde, Harpurhey, Hyde, Leigh, Longsight, Manchester, Manchester Victoria, Oldham, Rochdale, Sale, Salford, Stockport, Stretford, Urmston, Wigan, Wythenshawe.
Liverpool and Merseyside: Bebington, Birkenhead, Bootle, Crosby, Formby, Huyton, Kirkby, Knowsley, Liverpool, Prescot, Speke, St Helens.
Cheshire: Chester, Crewe, Ellesmere Port, Knutsford, Macclesfield, Northwich, Runcorn, Warrington, Widnes, Winsford.
Cumbria: Barrow-in-Furness, Carlisle, Kendal, Keswick, Penrith, Whitehaven.
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