Shropshire credit unions announce merger plans
Two credit unions which have been in the unusual position of serving the same communities for many years have announced plans to merge.
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The boards of Shrewsbury based Just Credit Union and Telford based FAIRShare Credit Union have agreed that together they will be able to offer enhanced services, greater financial resilience and expanded opportunities to all their members, whilst at the same time retaining their local focus.
June Campbell, chair of Just Credit Union, said: “We have always enjoyed a co-operative relationship with FAIRShare and both boards felt that now was the time to formalise this relationship.
“This is a move we have carefully considered for some time, and we are certain it will provide all our members and partners with the best possible service for the long term.”
Matt Cuhls, chair of FAIRShare Credit Union, said: “FAIRShare and Just Credit Union have similar ethos and serve the same communities. We have shared values of community support and member empowerment and coming together is the next logical step.
“Together we can make the investment in technology and people to ensure we meet the long-term needs of our communities delivered by one dynamic organisation. Together we will be stronger.”
Both credit unions say that among the delivery benefits of the merger for members will be the same locally focused approach, ethos and values.
In addition, a single dynamic organisation serving their needs will enable investment in new technology services and products. And present opportunities to grow and develop new markets and products.
As member owned cooperatives, both say they are committed to consulting with their members and keeping them informed every step of the way.
The merger and integration will take some time to achieve and in the meantime, there will be no change to the ‘great services’ both credit unions provide.
June added: “Members won’t see any immediate changes, but we hope they will see this as a positive move to building the best possible not for profit financial services provider for our region.”
Members are assured they will have the opportunity to discuss the proposal and ask any questions at each credit union’s annual general meeting in March. Just Credit Union will hold theirs at Shirehall in Shrewsbury at 5.45pm on 19 March. FAIRshare’s will be 1pm on 20 March at Meeting Point House in Telford.
Regular updates, including FAQs, will be provided via the websites and in the meantime members with any questions are free to contact both credit unions.
