ABCUL Joins Downing Street Reception on Co-operatives and Mutuals

Monday 9 June 2025

On Monday 09 June, ABCUL joined fellow leaders from across the co-operative and mutuals sector at a reception hosted at No.10 Downing Street.

The reception brought together representatives from across the social economy to hear more about the Government’s renewed commitment to its manifesto pledge to double the size of the co-operative and mutuals sector. Ministers also placed this ambition firmly within the wider goal of promoting financial inclusion – a key strand of the Government’s Plan for Change and its mission to put more money in people’s pockets and drive inclusive economic growth.

The event was convened by the Secretary of State for Business and Trade, Jonathan Reynolds, alongside the Minister for Services, Small Business and Export, Gareth Thomas, and the Economic Secretary to the Treasury, Emma Reynolds.

Ministers outlined key steps already underway, including the advancement of the Business Growth Service and the launch of a Call for Evidence on Co-operatives and Mutuals. While financial mutuals such as credit unions are not in scope for this Call for Evidence, the Government reaffirmed their vital role in fostering financial inclusion and building a more resilient, community-based financial services sector.

ABCUL Chief Executive, Matt Bland attended the event alongside a number of credit union leaders. Matt said: “I was delighted to have the honour of representing the credit union sector at this important event.  To be invited to Number 10 for an event celebrating co-operatives & mutuals demonstrates the government’s commitment to the crucial role of our sector.

“The government’s commitment to doubling the size of the co-operative & mutual economy, as well as the financial inclusion strategy also under development, represent significant opportunities for credit unions to expand and play a bigger role in British society.  ABCUL looks forward to working closely with credit unions and government to build a fairer, more inclusive financial system and a stronger co-operative economy for the future.”

The Government’s Call for Evidence marks an important opportunity, particularly in the UN’s International Year of the Co-operative, for members to help shape policy that enables the sector to start, scale, and thrive.