Just Credit Union and FAIRshare Credit Union are delighted to announce their plans to merge. Shropshire and Telford & Wrekin have been in the unusual position of having two credit unions serving the same community for many years. The Boards have agreed that together we will be able to offer enhanced services, greater financial resilience and expanded opportunities to all our members whilst retaining our local focus.
“We have always had a cooperative relationship with FAIRshare and both Boards felt that now was the time to formalise this relationship. This is a move we have carefully considered for some time, and we are certain it will provide all our members and partners with the best possible service for the long term.â€Â June Campbell Chair of Just Credit Union
“FAIRshare and Just Credit Union have similar ethos and serve the same communities. We have shared values of community support and member empowerment and coming together is the next logical step. Together we can make the investment in technology and people to ensure we meet the long-term needs of our communities delivered by one dynamic organisation. Together we will be stronger.†Matt Cuhls Chair of FAIRshare Credit Union
What will the merger deliver for our members?
- The same local community focused approach
- The same ethos and values
- A single dynamic organisation to serve their needs
- Improved financial stability and growth prospects which will support future member benefits and services
- Opportunities to develop new products and invest in new technology
What are the next steps?
As member owned organisations we are committed to consulting with our members and keeping you informed every step of the way. The merger and integration will take some time to achieve, and, in the meantime, there will be no change to the great services both credit unions provide. Members will have the opportunity to discuss the proposal and ask any questions at our Annual General Meeting in March. The aim to be a single credit union by the end of 2025. Full integration will take some time to achieve and will be an incremental process this will ensure the service our members need is not disrupted.  We will provide regular updates via our websites a link to FAQs if below. In the meantime, if you have any questions, please feel free to contact us.
Updates
Members of both credit unions had the opportunity to discuss the proposal and ask questions at their respective Annual General Meeting held in March. As required by regulations covering credit union mergers FAIRshare Credit Union held a Special General Meeting (SGM) at the same time as their AGM and members voted to proceed with the merger. FAIRshare were required to hold a second SGM which took place on Friday 4th April and members again voted to proceed with the merger.
The regulatory authorities have authorised the merger and both credit unions are working towards the merger to be completed by 1st Oct 2025.
Frequently Asked Questions
WHY IS A MERGER BEING CONSIDERED?
Shropshire and Telford & Wrekin have been in the unusual position of having two credit unions serving the same community for many years. Both Boards agreed that a single credit union for the region will provide many benefits to members and the community and have therefor commenced a merger process. The process of credit unions coming together is closely regulated by the Financial Conduct Authority and we will be following these requirements.
WHAT ARE THE BENEFITS OF A MERGER?
- A single dynamic organisation serving the needs of our communities
- A credit union with the same local community focus, ethos, and values
- Ability to invest in new products and services to enhance our members’ experience
- Ability and expertise to employ the latest technology
- Opportunity for staff to specialise in an ever more complex world
- Reduce the need for duplicated resources required on non-member focused activities like regulatory compliance and reporting
WHAT HAS HAPPENED TODATE?
The Boards of both credit unions have been informally discussing the potential benefits of a merger for some time. In late 2024 they agreed that we shared the same values and aims and therefore agreed to undertake a detailed due diligence process. The report was presented to each Board in January 2025 and they both unanimously voted to commence the formal merger process.
DO I NEED TO DO ANYTHING?
You may wish to take part in the consultation process, and hope many will, but there is no other action required.
WHAT IF I AM A MEMBER OF BOTH CREDIT UNIONS
After integration, if you are a member with both credit unions, your accounts will be linked.
ARE MY SAVINGS SAVE?
Both FAIRshare and Just are members of the Financial Service Compensation Scheme and the merged credit union will be too. All eligible deposits are protected up to a total of £85,000
WILL MY LOAN CHANGE?
There will be no changes to the terms of an existing loan.
ARE THERE ANY CHANGES TO NEW OR TOP UP LOANS AND THE APPLICATION PROCEESS?
Both credit unions will continue to offer the same loan terms and the same application criteria and process. As the credit unions integrate, we will seek ways of improving our processes and the products we are able to offer to all members.
I PAY THROUGH A PAYROLL DEDUCTION SCHEME WILL THIS CHANGE?
All payroll schemes will continue to operate in the same way.
I USE THE DIRECT PAYMENT SCHEME WILL THIS CONTINUE?
Direct payments will continue operating in the same way as they do now.
DO I NEED TO CHANGE THE WAY I CONTACT MY CREDIT UNION?
Telephone numbers, email addresses and online access will not change for the foreseeable future we will inform members of any changes in due course.
CAN I USE EXISTING DOCUMENTS AND FORM?
These will not change initially, and we will roll out new forms and inform members as required.
WILL I STILL RECEIVE A DIVIDEND THIS YEAR?
As with previous years Just Credit Union members will have the opportunity to vote on the dividend recommendation at the March AGM and it will be paid as normal.
WILL STAFF BE AFFECTED?
Reduction in staff numbers is not part of the merger plan or seen as one of the benefits. It will enable more specialisation in the joint team and will release some staff from duplicated administrative duties to focus on service to our members. Telephone support staff will remain available.
WILL OFFICE PREMISES CHANGE?
No changes are proposed immediately any decisions to change will be based upon the best locations for both staff and delivery of member services.
 WHAT WILL THE COMBINED CREDIT UNION BE CALLED?
No decision has been made, and both will continue to operate under their existing name initially. We will seek members views should a name change be proposed.
WHAT HAPPENS NEXT?
As member owned organisations we are committed to consulting with our members and keeping them informed. Just Credit Union members will have the opportunity to discuss the proposal and ask any questions at the March Annual General Meeting.
Due to regulations requirements relating to the merger the way each credit union engages with its members will be slightly different and FAIRShare will be required to hold an additional meeting in April. At this point we will be able to confirm the merger is progressing and will then seek formal approval to proceed from the Financial Services Authority.
The aim to be a single credit union by the end of 2025. Full integration will take some time to achieve and will be an incremental process this will ensure the service our members need is not disrupted.
