City's mutual bank opening pushed back

The proposed opening date of a mutual bank in which Preston City Council has invested £250k has been pushed back.

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The location authority has put in around one quarter of the roughly £1m which has so far been invested into the development of NW Mutual, a mutual bank planning a network of 60-plus branches to be 'owned by, based in and for the people and small and medium-sized businesses of the north west of England'.