Mutual aims for 'bricks, clicks and flicks' model

NEW BANK'S BID TO OPEN NETWORK OF 60 BRANCHES ACROSS REGION

- By ALISTAIR HOUGHTON

A NEW mutual bank for the North West of England says it wants to open a network of 60 branches across the region.

Co-operative society NW Mutual was launched in response to waves of bank closures across the region and aims to provide a customer-owned alternative to high street banks.

The bank says it will operate with a 'bricks, clicks and flicks' business model, including a th branch netE work and mobile and online banking, offering products and services to SME customers.

It's chaired by David Milner, who was chairman of Dudley Building Society and Nottingham Imperial Building Society, while its director James non-executive Moore has more than 25 years of boardroom experience in sectors including financial services in the UK and overseas and also founded the Community Savings Bank Association.

Some £1m from directors has already been invested to build up NW mutual behind the scenes, including building its systems and preparing its banking licence application.