Member Update: Merger Proposal
Our Board has agreed in principle to a strategic merger with Metro Moneywise Credit Union. This is a positive step designed to strengthen what we can offer you, both now and in the years ahead.
Metro Moneywise is a well-established, member-owned credit union based in Rochdale, the birthplace of the co-operative movement. Like us, they exist to support members’ financial wellbeing and do the right thing with money. Together, we would create a stronger, more resilient credit union, continuing under the name The Money Co-op.
What this could mean for you
If the merger goes ahead, members would benefit from:
• stronger financial stability through combined assets and resources
• a wider range of competitive savings and loan options over time
• continued investment in digital services and technology
• the same member-first values, with all permanent staff keeping their roles
What will not change
During the approval process, there will be no change to your account, savings, loan or day-to-day service. Everything continues as normal. If anything is due to change in the future, you will be told clearly and in advance.
What happens next
Members of both credit unions will be asked to vote on the proposed merger at an Annual General Meeting. You will receive an invitation in early January with full details of how to attend and vote.
If members vote in favour, the merger would then need regulatory approval. This takes time, so the earliest the merger could complete is likely to be June 2026.
Until then, both Boards will continue to act independently and always in the best interests of their own members.
We believe this partnership represents growth, stability and the opportunity to do even more good for our members and communities. We will keep you informed at every stage.
If you have questions, an FAQS page is available here on our website . If there’s something else you’d like to know which isn’t covered, then please feel free to contact us in any of the usual ways and we’ll respond as soon as we can.
We’ll keep you updated every step of the way, meanwhile thanks for your support as a member of The Money Co-op.