After 30 years of collaboration within the Credit Union sector, Central Credit Union (CCU) and Liverpool Community Credit Union (LCCU) are thrilled to announce their merger. Together, we aim to offer enhanced services, greater financial resilience and expanded opportunities for our local communities.

Why merge?

The Board of LCCU has been exploring ways to expand online services and improve loans and savings products for members.

After careful consideration, LCCU determined that partnering with another local credit union would be the fastest and most effective way to achieve this goal. As a result, their members voted in favour of merging with CCU.

Eileen Halligan, CEO of Central Credit Union said:

“The merger between CCU and LCCU marks a significant step in the 30-year partnership built on shared values of community support and member empowerment.

This merger will allow LCCU members to access CCU’s comprehensive services and robust products, though full integration will require time and investment.

For members, this collaboration means expanded access to financial products, improved financial resilience, and the strength of a larger, more advanced credit union. By unifying our resources, CCU and LCCU can better serve our communities, enhancing financial inclusion and making a more significant difference in the lives of our members while reinforcing our long-term commitment to community development.”

A shared vision

We recognise the incredible impact LCCU has made in Liverpool. Their dedication and passion have enriched the lives of so many, and we are confident that combining our strengths will allow us to achieve even greater things together.

This merger reflects our unwavering commitment to serving members and empowering communities to achieve financial resilience and stability.

What’s next?

The integration process will take time, but we are dedicated to keeping members informed every step of the way.

Want to know how the merger will affect you? Check out our FAQs below.

 

Frequently asked questions (FAQ)

What will happen to LCCU’s branches?

LCCU’s Norris Green and West Derby branches will remain open, but the branding and signage outside the branch will be changed to ‘Central Credit Union’. We want to cause as little disruption to LCCU’s members as possible, and we feel that keeping these existing branches open will help maintain the relationship with people and organisations in those local areas.

As LCCU becomes part of CCU, members will also be able to use CCU’s branches located in Anfield and Toxteth. In addition, you will be able to utilise our mobile office, which travels around the Liverpool City Region and our other common bond areas.

In total, as both organisations merge, there will be 4 branches:

• Toxteth (Head Office)

141 Park Street, Liverpool, Merseyside, L8 6QF

• Anfield

213 Breck Road, Liverpool, Merseyside, L5 6PT (no cash deposits or cash withdrawals are available at this office)

• Norris Green

Unit 8, Broad Lane, Norris Green, Liverpool, Merseyside, L11 1AD

• West Derby

32 Almonds Green, Liverpool, L12 5HS

 

When will members see changes?

Implementing a merger of this size will take some time. Although the merger is official (as of 26/11/2024), it will be some time before the process is complete.

Our aim is that from early 2025, LCCU members will be able to access the services that CCU provide, such as online applications, online access to your account and new savings and loan products .

For existing members of CCU, this merger will not have too much of an impact on the products and services you already receive.

 

What will happen to the accounts of LCCU members?

Right now, the accounts of members at LCCU will stay as they are, and their savings and loans will be unaffected. Nothing will change overnight, but from early 2025 onwards, LCCU members can access other loans and savings products that CCU offer .

 

I am a member of both credit unions. What will happen to my account?

If you are a member of both credit unions, there is no need to worry. Your accounts will stay as they are, and nothing will change for the moment. We will provide necessary updates to such members around early 2025.

 

Will savings be safe?

Yes, for all members (both of CCU and LCCU), all savings are safe and protected by the Financial Services Compensation Scheme (FSCS).

 

Will the interest rate on loans change?

Rates on your current borrowing will not change. At CCU, we also offer loans at a lower rate for long-term members.

 

Why is this happening?

The Board of Liverpool Community Credit Union had been thinking about ways to introduce more services and improve their loans and savings products. The Credit Union concluded that working with another credit union in Liverpool is the best way to get these services to members quickly.

After necessary Special General Meetings, Liverpool Community Credit Union members voted in favour of a merger with Central Credit Union.

We look forward to the future and working together as a united Credit Union to continue our positive impact and service of providing services and support to our members.