Fallowfield Credit Union merges with South Manchester Credit Union
17 Nov 17
Fallowfield Credit Union (FCU) started 24 years ago and has been entirely volunteer run. Some of the founder members have been active right up until the recent merger.
The credit union was started by the community of St Kentigerns in Fallowfield and served the communities of Fallowfield. They have been long time members of ABCUL and active supporters of the North West Forum.
Now that the credit union has merged with South Manchester Credit Union there is a combined membership of 3,700 and shares of £2.77 m and a loan book of £1.54m.
The merger was celebrated on ICU day with speeches and photos with Local councillor Carl Austin- Behan, former Lord Mayor of Manchester last year who is a long-time member of South Manchester CU and champion of credit unions.
Speaking about the merger, Sheenagh Young, South Manchester Credit Unions Chief Executive, stated: “We are delighted to merge with Fallowfield Credit Union as we share much in values and in our community roots. We look forward to applying our combined resources to serving the people of South Manchester together.”