London Assembly Spotlight on the Future of Credit Unions

Thursday 5 February 2026

The London Assembly’s Economy, Culture and Skills Committee held a significant evidence session this week to examine the future role of community-based financial institutions, with senior representatives from the credit union sector giving evidence alongside ABCUL Chief Executive, Matt Bland.

The session on 4 February 2026 brought together Assembly Members and sector experts to explore how community banks and credit unions compare with commercial lenders, the distinctive value they offer, and the policy changes needed to help them expand their reach. The discussion ranged from financial inclusion and local economic resilience to innovation in lending models— including the growing opportunities for green lending, where credit unions are increasingly helping households finance energy-efficient improvements, greener transport options and other sustainability-focused investments.

Matt Bland spoke on behalf of the national credit union movement, setting out the distinct advantages of member-owned financial cooperatives and the role they play in supporting people who may struggle to access fair and affordable financial services elsewhere. He emphasised the sector’s continued growth in membership and its potential to deliver much greater social and economic benefit with the right support.

Joining Matt on the panel were Ben West from London Mutual Credit Union, Ravi Ravindran from Lewisham Plus Credit Union, and Dr Paul Jones from the Swoboda Research Centre, who each offered practical frontline perspectives on serving diverse London communities. They discussed the realities of supporting members through the cost-of-living crisis, the importance of financial education, and the widening gaps in access caused by bank branch closures.

The Committee considered how community banking models can complement existing financial services, what regulatory or policy changes could help these institutions grow, and how they can contribute to local economic development. Speakers also reflected on the broader value of keeping financial services locally rooted and accountable to the people they serve.

ABCUL Chief Executive, Matt Bland said: “It was a privilege to join colleagues and give evidence to the London Assembly on behalf of the credit union movement.

“London’s credit unions are rooted in the communities they serve. Alongside my fellow sector leaders, I was pleased to highlight both the challenges we face and the opportunities that exist to strengthen financial inclusion across the capital.

“With the right policy support, public awareness and collaborative effort between civic leaders and community finance providers, we can unlock even greater impact – expanding access to fair finance, supporting local economies, and helping more Londoners build financial resilience.”

Watch the full webcast here.