CAN A COMMUNITY BANK REALLY TRANSFORM LIVES?

In every corner of the world, from Lagos to London, Cape Town to Cardiff, there’s one question most families ask at the end of each month: How do we stretch this money just a little further? Bills don’t wait. Emergencies don’t warn you. And when traditional banks say no, where do you turn?

Many know the sting of rejection when you’re told you’re not “eligible,” “creditworthy,” or simply “not the right fit.” For some, especially in marginalised communities, it’s not just a financial blow, it’s a personal one. But what if there were a financial institution that saw beyond your credit score? One that remembered your name, your story, and your faith community?

That’s exactly what the Pentecostal Community Bank is doing. And at the heart of its story is a woman who’s not only telling that story but helping shape it.

MEET ELAINE BOWES
Elaine Bowes has been with the Pentecostal Community Bank since 2015, serving as Head of Marketing. But her connection to its mission runs far deeper than job titles. For Elaine, this is legacy work, continuing the vision of Reverend Carmel Jones, a Jamaican migrant who, after facing discrimination in the Church of England, went on to found one of the UK’s most remarkable community financial institutions.

Today, the bank remains deeply rooted in Pentecostal faith communities, but its impact reaches far beyond Sunday services. It’s about creating real, tangible financial support, hope, and dignity, especially for those often overlooked.

In this interview, Elaine opens up about the bank’s journey from rejection to resilience and how they’re rewriting the rules of banking. Let’s dive in.

Q: How did the Pentecostal Community Bank come to life, and what inspired its founding?
Elaine: Our roots go back to 1980, but the vision started much earlier. Our founder, Reverend Carmel Jones, came to the UK from Jamaica in 1955 and faced racial rejection in the Anglican Church. That exclusion led him to the Pentecostal movement, where he became a pastor and built deep community roots. But when churches needed to buy their buildings, traditional banks shut the door. So he opened another one, the Pentecostal Credit Union. That bold act gave churches access to funds, empowered individuals, and eventually led to our recent rebrand as the Pentecostal Community Bank.

Q: So with this new name, has anything changed about who can access the bank?
Elaine: We’re still a membership-based organisation, so you need an affiliation with a Pentecostal church anywhere in the UK to join. You don’t need to be a registered member of a church, just tell us where you worship. We’re open across all four nations of the UK, and everything is digital-first now. Opening an account costs just £35 (£10 for membership and £25 deposit), and once you join, you’re not just a customer, you’re a shareholder.

Q: What makes your lending approach so different from traditional banks?
Elaine: It’s deeply personal. Yes, we look at credit reports, but that’s just the start. If someone has a poor score, we don’t immediately shut the door. Our team takes time to understand the full picture of their need, their history, and their current challenges. It’s not a robotic system. It’s human decision-making rooted in compassion and care. And that’s why our members trust us.

Q: What are some key milestones that show how you’re making a difference in the community?
Elaine: We hold the Fair Banking Mark, which recognises ethical, customer-focused financial service. We’ve funded the purchase of over 26 properties, mostly churches, across the UK. We’ve also helped thousands with personal finance education and celebrated our 45th anniversary with a rebrand that reflects our mission more clearly: to strengthen and serve communities with integrity.

Q: You speak a lot about community wealth. What does that mean?
Elaine: Community wealth is about circulation. The more a pound stays within our community, the stronger we become. When members save, those funds are used to lend to others in need whether that’s for a business, a boiler, or a church building. Every member is an owner, so the success of one supports the success of all. We also buy from our members’ businesses and provide corporate accounts and business guidance to encourage entrepreneurship.

Q: How do you support people struggling with the rising cost of living?
Elaine: Education is key. We run online workshops on budgeting, credit reports, inheritance, and financial planning. But more than that, we tackle money mindsets. You can’t budget properly if your relationship with money is rooted in fear or shame. We help people see that financial health is possible, no matter their past. A bad credit score doesn’t define you; it’s temporary and fixable.

Q: What should everyone know about managing credit wisely?
Elaine: First, understand that your credit report matters far beyond loans. Employers and immigration services look at it too. You can’t opt out of it, but you can control what’s on it. Keep your borrowing manageable, pay more than the minimum, and use no more than 30% of your credit card limit. And don’t cancel your credit cards once paid off available but unused credit actually boosts your score. It’s not about fear; it’s about stewardship.

REDEFINING WHAT A BANK CAN BE
In a world where banking often feels cold, impersonal, and exclusive, the Pentecostal Community Bank is writing a different story. One where faith, community, and compassion meet financial empowerment. Where your past doesn’t determine your future. And where everyone, regardless of credit history, deserves a second chance. This isn’t just banking. It’s a ministry. It’s a legacy. It’s hope in action.

WANT TO KNOW MORE OR BECOME A MEMBER?
Whether you’re looking for financial education, support with credit, or simply want to join a financial movement rooted in faith and community, HeartSong Live would love to connect you. Send an email to info@heartsonglive.co.uk

Let us know you’re interested in the Pentecostal Community Bank, and we’ll point you in the right direction.