It's about trust both ways. You trust the bank to look after your savings and the bank trusts you to repay your loans.
To help make this work, each bank will be autonomous, controlled by its members, only operate in its own region and will be run on the principle of one member one vote.
Members will elect the Board of directors and set their pay and conditions.
To open an account or to take out a loan from the the bank, you will have to become a member. Membership will be open to any resident who meets the residency qualification irrespective of the income they may generate. Resident means an individual who lives in the region. Companies and organisations with significant financial or commercial interest in the region. Local authorities or charities or community groups which have a meaningful community involvement within the region.