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Credit union common bond reform in Great Britain.

18 March 2026

Proposing MP
Lucy Rigby Lab
Northampton North
Type
Written Ministerial Statement
Department
Treasury
View on Parliament.uk -->

At a Glance

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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