ITV News Broadcast Highlights Credit Union Reforms and Their National Impact

29/04/2026

The feature explores how the changes will enable credit unions to grow, modernise, and reach more people across the country.

The reforms are expected to help build a stronger, more sustainable sector that can reach more people and deliver greater impact. By making it easier for credit unions to serve more people in their communities, the changes will support families, workers, students and retirees to access fairer financial products and build financial resilience.

The package includes contributions from Eastern Savings & Loans Credit Union and Moneywise Credit Union, with additional regional coverage featuring  Derbyshire Community Bank, Wave Community Bank and West Country Savings and Loans. Together, they highlight the tangible difference credit unions make in people’s lives. From providing affordable loans to encouraging savings and offering financial guidance, credit unions continue to act as a vital alternative to high-cost lenders.

Sector representatives also addressed concerns around borrowing, reinforcing that credit unions are built on responsible lending principles, with affordability and member wellbeing at their core – helping people manage money sustainably rather than fall into cycles of debt.

The reforms build on the government’s wider work to improve financial inclusion and resilience across the UK. As part of the Financial Inclusion Strategy, there is ongoing collaboration with the financial services sector and consumer groups to make it easier for people to access bank accounts, build savings, and improve financial education.

Support from organisations such as Fair4All Finance – including investment through its Transformation Fund – is also helping credit unions scale their services and enhance their digital capabilities.

Together, these developments signal a significant step forward for the sector, positioning credit unions to play an even greater role in supporting communities and tackling financial exclusion nationwide.