Our 75th Anniversary

2010 marked the 75th anniversary of the formation of Conister Trust, now Conister Bank. In 1935, a meeting was held on Friday the 8th of November at the Sefton Hotel in Douglas which resulted in the subsequent formation of Conister Trust on December the 5th 1935.

The founder members of the company were well known Isle of Man families and business people seeking to create a company that specialised in the provision of finance for Island residents. Up until that point, any person requiring finance in the Isle of Man had no choice but to go ‘overseas’ to companies in the United Kingdom.

Founder members of the company can trace links to businesses which continue to trade in the Isle of Man today, including Mylchreests and the Isle of Man Examiner Newspaper. Early transactions included finance for motor vehicles, radio and electrical equipment, furniture, a Velocette motorcycle (worth £11!) and a set of golf clubs.

Since its formation in 1935 the company has seen many changes, moving premises from its first office at 29 Athol Street, to Victory House in Douglas and then Finch Road Douglas, prior to arriving at it’s current home on the modern and accessible Isle of Man Business Park. The structure of the company has changed also, having become a public company in 1971 in order to facilitate growth, the business is now a limited company and part of the Manx Financial Group PLC (formerly Conister Financial Group PLC), an AIM listed company, which offers retail and commercial banking services and payment solutions through its wholly owned subsidiaries Conister Bank Limited and Conister Card Services Limited.

In October 2009 Conister Trust Limited became Conister Bank Limited in order to reflect the growing range of banking, lending and wealth management services available from the Bank. Despite the change of name, the focus of the bank remains true to the vision of the founders, primarily to serve the financial needs of Isle of Man residents as an alternative to foreign or overseas suppliers. The Bank is proud of its connections to the Isle of Man and considers that services, provided by local people to local consumers provides a genuine point of difference especially at a time when people feel let down by the ‘big banks’, some of which have failed spectacularly in recent months.

As an example, Conister Bank does not use overseas or foreign contact centres. Its customers are able to speak to named customer service staff, all of which live and work in the Isle of Man. Whilst the Bank makes extensive use of technology, indeed it installed a £750,000 banking system in 2009, customers affairs are still overseen in the Isle of Man by experienced bank staff, rather than ‘faceless’ contact centres. Its business managers are flexible and pragmatic and able to take a more hands on approach to the lending requirements of its personal and commercial customers. Our size, and independence allow us to take a more bespoke approach to make decisions quickly.

To celebrate the bank’s 75th anniversary Conister Bank  partnered with Manx National Heritage in 2010 to support the launch of the ACE scheme. The Arts, Culture and Education scheme (ACE) provides free admission to Manx National Heritage sites for children and young people aged 18 and under in full time education on the Isle of Man and has been developed through close working between Manx National Heritage and the Isle of Man Department of Education, along with sponsorship funding received from Conister Bank.

Conister Bank is proud of its own heritage, created over 75 years. However, Conister Bank is also a forward looking organisation. It recognises its role as a force in the development of future generations in the Isle of Man. Through the provision of loans, asset finance and personal financial advice, Conister Bank has helped generations of families achieve financial independence, and will continue to do so for generations to come.

For more information about the Manx National Heritage ACE scheme click here.