Metro Moneywise Credit Union and The Money Co-op Credit Union Announce Strategic Merger

We’re excited to share some important news with you that’s all about strengthening our credit union and delivering even more value for our members.

Metro Moneywise Credit Union and The Money Co-op (formerly known as the Co-operative Family Credit Union) are pleased to announce that their Boards of Directors have agreed in principle to a strategic merger designed to increase member benefits, enhance financial strength, and take advantage of the combined scale of two respected and well-established Credit Unions.

The proposed merger would bring together two member-focused organisations with shared values, and a deep commitment to improving the financial well-being of our members. Pending regulatory approval and a member vote, the combined credit union would operate under the name The Money Co-op which follows a successful and professional re-brand of the Co-op Credit Union and aligns with Metro Moneywise Credit Union’s roots in Rochdale, the birthplace of the Co-operative movement.

Our CEOs from both credit unions have shared why they believe this is such a positive step for members.

“Our members are at the heart of every decision we make,” said Ciara Davies, CEO of Metro Moneywise. “By joining forces, we will deliver greater access to competitive products, more advanced digital services, and greater reach into our payroll partners. This merger enables us to invest more deeply in the products and services our members need today and will expect in the future.”

Lisa Parry, CEO of The Money Co-op echoed this sentiment. “Both credit unions have strong financial foundations and proud histories. Together, we will be even better positioned to support our members, employees, and communities. This partnership represents growth, stability, and the opportunity to do even more good.”

If approved, this merger brings some clear benefits for our members.

Key Benefits for Members

• Enhanced digital services and technology investments
• Greater product offerings, including a wider range of competitive loan and savings options
• Stronger financial stability through combined assets and resources
• Commitment to our members and our people with all permanent staff retaining their roles within both credit unions

We know you may have questions about what this means in practice, so here’s what you can expect.

What Members Can Expect?

During the merger approval process, there would be no impact on member accounts or services.  Members will be notified in advance of any changes and will continue to receive the exceptional service they expect.

So, what happens next?

The members of Metro Moneywise Credit Union and The Money Co-op will be asked to vote to approve the merger, so you will receive an invitation to attend a Special General Meeting which will follow the Annual General Meeting.

Once both credit union’s members have approved the merger, the merger will need to be approved by the regulator.  This process takes times so the merger is likely to happen in June 2026.

Until that time, both Boards will continue to act in the best interests of their respective members, and ensure that any risks are identified and addressed so that there are no unexpected issues or negative consequences of the merger.

About Metro Moneywise Credit Union

Metro Moneywise Credit Union was founded in 1990 for employees of Rochdale council and has expanded to include individuals working in health, social care and education sectors.

Metro Moneywise serves 8500 active members and has assets of £13m.

About The Money Co-op

The Money Co-op was founded in 1998 for employees of the Co-op Group and has expanded to cover individuals working for any co-operative business, trade union or charity.

The Money Co-op serves 8500 active members and has assets of £7m.

We’re committed to keeping you informed every step of the way and making sure your questions are answered. Your membership matters to us, and we look forward to sharing updates as the merger progresses.

Thank you for your continued support,

The Metro Moneywise Team