Commons Sense

House of Commons · Written Ministerial Statement

Credit union common bond reform in Great Britain.

18 March 2026 · Treasury

Proposed by Lucy Rigby Lab Northampton North

Business & TradeEconomy

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • Credit union common bond framework in Great Britain to be reformed to support sustainable growth.
  • Government plans to remove barriers to credit union growth through legislation when parliamentary time allows.
  • This reform is part of the broader initiative to double the size of the mutuals sector.

Issue summary

The statement addresses the reform of credit union common bond framework in Great Britain to support sustainable growth and financial inclusion.

Action requested

The government will legislate to remove barriers to credit union sector growth when parliamentary time allows, as part of a broader initiative to double the size of the mutuals sector. This follows a call for evidence and is detailed in the Financial Inclusion Strategy.

Key facts

  • The reforms aim to support sustainable growth of credit unions.
  • A £30 million Credit Union Transformation Fund was announced for England as part of the Financial Inclusion Strategy led by Fair4AllFinance.
  • The Mutuals Landscape Report was published on 5 December 2025, outlining planned reviews and reforms.
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