WARRINGTON’S newest bank was officially launched on Monday.

Part funded by Warrington Borough Council, the bank, which has offices at The Base in the Stadium Quarter, was opened at a special ceremony at The Halliwell Jones Stadium.

Redwood Bank Warrington provides loans to business owners in the area, secured on their commercial property, together with loans to professional landlords, secured on their residential or commercial investment properties.

It has also launched Best Buy online notice savings accounts for businesses, clubs, societies, associations and charities.

Gary Wilkinson, CEO and co-founder of Redwood Bank, said: “We are delighted and proud to be open for business and to launch Redwood Bank Warrington and to confirm our commitment to helping local businesses thrive.

“I would like to take this opportunity to thank the Warrington community for welcoming us into your town and we look forward to helping businesses unlock their full potential.”

Warrington Borough Council is a major shareholder in the bank with council bosses saying it aims to provide sustainable economic growth in the borough and the surrounding area.

Cllr Russ Bowden, executive board member for corporate finance, added: “In Warrington, we are doing everything we can to support the local economy and help businesses thrive.

“It’s an important part of securing a better future for the borough.

“These proposals are part of this wider work. It’s about us doing things differently and using innovative financial approaches to support growth and sustainability in Warrington.

“Our partnership with Redwood Bank is the latest example of how we are doing business, through innovative financial practice to secure a better future.

“I’m looking forward to Redwood Bank giving a real boost to the economy and helping Warrington businesses thrive.”