Yorkshire Credit Unions Merge as Consolidation Trend in Sector Continues

Friday 25 April 2025

Sheffield Credit Union and Laser Credit Union have announced a strategic merger, with the goal of creating one of the region’s most robust financial co-ops.

The deal, with Sheffield CU the receiving institution, will see the combined entity maintain all existing branches while developing expanded capabilities to serve the financial needs of current and future members.

Sheffield CEO, Paul Hancock said: “This is an exciting time for Sheffield Credit Union and our growing membership. By joining forces with Laser Credit Union, we are strengthening our ability to support members, and future members from South Yorkshire, in achieving their financial goals.

“Our commitment to providing fair and accessible financial services remains at the heart of everything we do, and this merger allows us to expand our reach and enhance our offering.”

Laser Chair, Alan Teale added: “We are thrilled to be joining Sheffield Credit Union in this next chapter. This merger is an opportunity to build on the strong foundations both credit unions have established over the years.

“Together, we can provide even better financial support, products, and services to our members, ensuring a resilient and forward-looking credit union for the future.”

Source – Cooperative News