Merger information
The Board of the Credit Union has been thinking about how to introduce more services online and improve our loans and savings products.
The Credit Union has come to the conclusion that the best way to get these services to members quickly is by working more closely with another credit union in Liverpool. As a result, we’re asking the members to vote in favour of a merger with a Central Credit Union. They provide an excellent service and is committed to having branches across the City Region and beyond.
This is the formal notice for the merger. You’ll also find some Frequently Asked Questions below:
Notice is hereby given of the second Special General Meeting of Members
to be held at 17:00 on Monday 4 November 2024 on Zoom or West Derby Community Association
There will be one motion upon which members are being asked to vote:
This meeting of members of the Liverpool Community Credit Union hereby resolves to transfer the whole of the stock, property and other assets and all engagements of the society to the Central Credit Union in consideration of the Central Credit Union issuing to each member of the Liverpool Community Credit Union paid up shares equal to the amount standing to the credit of each member in the share ledgers of the Liverpool Community Credit Union on the date when the transfer of engagements becomes effective.
Proposer: Catherine Morton, Member Number: 123524
Seconder: Kellie Ditchfield, Member Number: 15026
To attend you will need to register your attendance.
Register your place
Frequently Asked Questions
What will happen to my account with LCCU?
Your account at LCCU will stay as it is. Over time you may be able to access other types of loan and savings services. Right now, your savings and loan account will be unaffected.
I’m going to apply for a Christmas loan soon, can I still do that?
Yes. Apply as normal. The rates and Terms and Conditions are unchanged.
Are my savings safe?
Yes. Your savings account is unaffected. Your deposits are protected by the Financial Services Compensation Scheme.
Will you close the branch?
The branch will remain open. In addition, a mobile office will travel around Liverpool.
When will I see any changes?
Later in 2025 new services will become available. These include online applications, online access to your account and new savings and loans products.
Will I be able to apply for loans online soon?
Yes. This is planned for early 2025.
Can I check my balance soon?
Yes. This is planned for early 2025.
Will my interest rate on loans change?
Rates on your current borrowing will be unchanged. Over time new loans will become available. Central Credit Union offers loans at a lower rate for long-term members.
Why Central Credit Union
Central Credit Union is a financially strong credit union. The Credit Union is well established and recently celebrated its 35th Birthday. It provides financial support to its members, including money tips and a community playground.
Any questions?
Please use this form for any questions you may have