Metro Moneywise Credit Union Celebrates 30 Years of Success

Monday 15 January 2024

The Credit Union was established in 1990 by a pioneering group of Rochdale Council employees who wanted to give their colleagues access to a safe savings scheme and low-cost loans directly from their salary. Inspired by the rich co-operative history of the town they were based in, the group decided that the co-operative model of a credit union was the way forward. After much hard work and intensive training Metro Rochdale Employees Credit Union was launched.

Fast-forward to 2020 and the credit union has welcomed over 10,000 members, holds over £10m of members’ savings, has lent in excess of £50m and has shared more than £2.5m of surplus with its members. Based on the Credit Union’s estimates, members have also saved over £12m simply by borrowing with Metro Moneywise rather than high-cost lenders.

The Credit Union transformed its services digitally in the past couple of years, which has been pivotal to Metro Moneywise’s success in supporting members during the lockdown period. “Despite so much change, we are committed to providing the best service to our members,” says Chief Executive of Metro Moneywise, Ciara Davies. “We pride ourselves on treating people like individuals, which is why we’re so proud of our 5-star Google reviews – not to mention 97% of members saying they would rate us 5/5 for customer service.

“With so much uncertainty in the world today, our promise to members is that we’ll always be here to listen. Whatever your circumstances, and whatever’s happening in the world, we’ll always do our best to help improve your finances to give you one less thing to worry about.”

Congratulating Metro Moneywise on its milestone, ABCUL CEO, Robert Kelly said: “On behalf of the entire Association, I’d like to express our huge congratulations to Metro Moneywise Credit Union on providing three decades of vital community service and helping to build financial resilience across their field of membership.

“Credit unions across the country have humble origins and Metro Moneywise CU is no different. Well done to all involved – the board, staff and volunteer base should be incredibly proud of what you have built for your members.” Ciara added: “After all, we believe in people helping people. That’s what we’ve done for 30 years, and what we’ll continue to do for the next 30 and beyond.”