Credit unions join forces in strategic merger

Sheffield Credit Union has unveiled a strategic merger with Laser Credit Union (Rotherham), in a deal which is designed to create one of the region’s most robust financial cooperatives.

The merger, with Sheffield Credit Union as the receiving institution, will see the combined entity maintain all existing branches while developing expanded capabilities to serve the financial needs of current and future members throughout the  region. 

Paul Hancock, CEO of Sheffield Credit Union, said: “This is an exciting time for Sheffield Credit Union and our growing membership.

“By joining forces with Laser Credit Union, we are strengthening our ability to support members, and future members from South Yorkshire, in achieving their financial goals.

“Our commitment to providing fair and accessible financial services remains at the heart of everything we do, and this merger allows us to expand our reach and enhance our offering.” 

Alan Teale, chair of Laser Credit Union, added: “We are thrilled to be joining Sheffield Credit Union in this next chapter.

“This merger is an opportunity to build on the strong  foundations both credit unions have established over the years.

“Together, we can provide even better financial support, products, and services to our members, ensuring a resilient and forward-looking credit union for the future.”

Both institutions have established regulatory approval for the merger, with integration processes starting immediately.