Founded in 1890 by William Booth, the founder of The Salvation Army, Reliance Bank was established to enable investment in social reform initiatives. Today, it operates as an independent UK bank, fully authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and PRA. The bank's mission is to be a socially responsible financial institution, serving individuals, businesses, charities, churches, and non-profit organisations that align with its ethical values. All of the bank's profits are used to support the charitable work of its shareholder, The Salvation Army.