More Households ‘to Have Access to Affordable Loans with Credit Union Shake-Up’

New loan rule for all UK households coming 'as soon as possible'

Credit unions offer loans with interest rates of no more than 3 per cent per month as part of services for members.

More households ‘to have access to affordable loans with credit union shake-up’

Government reforms will pave the way for bigger credit unions.

Credit Union Common Bond Reform – Call for Evidence Response

On 18 March 2026, HM Treasury (HMT) issued its response to its earlier Call for Evidence on the merits of and considerations for changing the credit union common bond requirement for membership in Great Britain, under the Credit Unions Act 1979.HMT states that the government intends to bring forward changes to the common bond in Great Britain.When parliamentary time allows, the government will legislate to:  Increase the potential membership cap…

Millions set to benefit as government widens access to affordable finance

New reforms will let credit unions reach millions more people, expanding access to low-cost borrowing and secure savings for households