Green light for merger of credit unions

Two credit unions have merged to increase services to customers.

Friday, 12th October 2018, 2:00 pm
Northumberland Gazette latest

Northumberland Credit Union (NCU) has merged with NEFirst Credit Union after unanimous approval from members at two special meetings for a transfer of engagements proposal from the NCU Board.

NEFirst Credit Union, which covers County Durham and Tyne and Wear, has around 15,000 members and holds savings of £4.5million.

It has offices in Birtley, Durham City, Gateshead and North Shields and will be retaining NCU’s Morpeth office.

Nic Best, NCU’s outgoing chairman, who will be representing Northumberland members to the NEFirst CU Board, said: “The NCU Board chose NEFirst CU because of their experience working in rural areas of Co Durham and because, despite their size, they still work to maintain links with local communities.

“The existing NCU paying-in points will – in the main – continue to operate, with the prospect of more if volunteers come forward.

“I’d like to thank all of the partner organisations that have worked with NCU and I hope that they will continue to work positive and fruitfully with NEFirst CU in Northumberland.”