Moneywise Credit Union have taken over the business of South Central Middlesbrough Credit Union (SCMCU).
Moneywise were approached by SCMCU earlier in the year following their decision to look for a suitable credit union to continue their business. SCMCU were suffering from a lack of new volunteers and increasing costs but wanted to ensure that their members were looked after.
Moneywise have vast experience of looking after smaller credit unions and their members after combining several smaller credit unions from the Newcastle area into their business a number of years ago and more recently Tees Credit Union from Stockton on Tees.
Chairperson, Phil Goad said: “We are willing to try and support other credit unions that ask for our help and welcome the members of SCMCU into Moneywise. We have a long history of putting our members first. We already have a branch in Middlesbrough, so it made sense to take on the business of SCMCU.”