Our member-approved merger doubles the size of The Money Co-op and creates new opportunities for growth, technology investment and member benefit.
The Money Co-op has officially completed its merger with Metro Moneywise Credit Union, creating a stronger organisation with expanded reach, enhanced digital capabilities and a broader range of products and services for members.
Following a period of consultation, engagement and member voting, the merger was formally completed on 22 June 2026 and doubles the size of The Money Co-op.
The merger brings together two successful credit unions with a shared commitment to helping people improve their financial wellbeing through fair, affordable financial services. It also demonstrates what can be achieved when member-owned organisations work together to create greater long-term value for the people they serve.
Stronger together
By combining our strengths, resources and expertise, we’re creating a stronger credit union that can invest more in technology, offer more choice for members and reach more people who could benefit from ethical, member-owned finance.
Members are already beginning to see some of the benefits, including an expanded range of savings and loan products, new member benefits and improvements to our digital services.
The merger also significantly broadens our common bond. Today, membership is open to people working in retail, co-operatives, charities, the NHS, health and social care, housing, education and local government, as well as Co-op members and members of Usdaw.
Bringing together two proud histories
The Money Co-op, formerly The Co-op Credit Union, was founded in Manchester in 1998 by and for employees of the Co-op Group and Co-operative Bank.
Metro Moneywise Credit Union was established in 1990 through a partnership with Rochdale Council and went on to support workers across local government, health, education and social care, including NHS trusts across Greater Manchester.
Together, our organisations have spent more than three decades helping people take control of their finances through fair savings, affordable loans and practical support.
A bigger impact
Since 1990, our combined organisations have:
- Supported more than 48,000 members
- Provided over £120 million in affordable loans
- Returned more than £3.7 million to members through dividends
These figures reflect the positive impact both organisations have had individually and provide a strong foundation for the future as one organisation.
Looking ahead
Ciara Davies, Chief Executive of The Money Co-op, said:
“This merger brings together two great organisations with shared values, to create an even stronger organisation that can reach more people, invest in new technology and offer more support to members and employers alike.
“Our roots are firmly in the co-op movement, and our focus is very much on the future and how we can make saving, borrowing and financial wellbeing simpler and more accessible for the people we serve.”
Jim Stott, Chair of The Money Co-op, said:
“This merger was only possible because members of both organisations chose to support it. Their confidence in a shared future has enabled us to build a stronger credit union that remains firmly rooted in co-operative values while being better equipped to meet the needs of members in the years ahead.
“I’d like to thank the boards of both organisations, and particularly former Money Co-op Chair David Fawell, for their shared vision and commitment to member benefit throughout this process. My thanks also go to our CEOs, Ciara Davies and Lisa Parry, and their teams for their hard work in delivering the merger and ensuring any impact on existing members was kept to a minimum.”
As we begin this next chapter, we’re excited about the opportunities this merger creates for our members, employer partners and communities.
By bringing together two successful credit unions, we’re creating a stronger organisation that remains true to its co-operative values while being better equipped to meet the needs of current and future generations of members.
