Government Reaffirms Commitment to Mutual Growth Agenda at Parliamentary Reception

04/06/2026

Representatives from All Together Money joined parliamentarians, ministers and sector leaders on 2 June to celebrate the first anniversary of the Mutuals and Co-operatives Sector Business Council at a Parliamentary reception hosted by Gareth Thomas MP.

The event brought together organisations from across the co-operative and mutual economy to reflect on the Council’s achievements over the past year and discuss the next steps in delivering the Government’s ambition to double the size of the co-operative and mutual sector.

Speaking at the reception, Rachel Blake MP, the newly appointed Economic Secretary to the Treasury, and Blair McDougall MP, Minister at the Department for Business and Trade, reaffirmed the Government’s commitment to the mutuals agenda and highlighted the important role co-operatives and mutuals can play in driving inclusive economic growth and strengthening communities across the UK.

For the credit union sector, the reception provided welcome reassurance that several key policy priorities remain firmly on the Government’s agenda. Ministers reiterated their commitment to progressing credit union common bond reform following proposals outlined in the King’s Speech and the subsequent consultation process. Reform of common bond requirements is expected to provide greater flexibility for credit unions to serve more people and support sustainable sector growth.

The event also highlighted the Government’s continued support for the Fair4All Finance Credit Union Transformation Fund. Following the recent consultation process, the sector expects the next phase of funding opportunities to open for applications in autumn 2026, supporting credit unions to invest in digital transformation, operational Chief Executive of All Together Money – The credit union movement, Matt Bland said: “It was extremely encouraging to hear ministers reaffirm the Government’s commitment to the mutuals agenda and recognise the important contribution credit unions make to communities across Great Britain. In particular, the continued focus on common bond reform, regulatory review and the future of the Fair4All Finance Transformation Fund demonstrates that our advocacy for the credit union agenda is being heard at the highest levels of government.

“The Mutuals and Co-operatives Sector Business Council continues to demonstrate the value of bringing together organisations from across the co-operative and mutual economy to pursue shared goals. As credit unions continue to grow their impact, it is important that the sector remains at the heart of conversations about financial inclusion, economic resilience and community wealth building.

“I would like to thank Kevin Parry for all of his passion and drive in establishing the Council and pushing this agenda forward as he steps down from the role.  Thanks also to Nationwide and Mutuo for their support for the Council.  I look forward to working with Debbie White of the Co-op who succeeds Kevin and my excellent Council colleagues as we push ahead with this vital agenda for inclusive growth.”

All Together Money will continue to work closely with ministers, officials and sector partners to ensure credit unions remain central to the delivery of the Government’s mutuals agenda and to advocate for reforms that support sustainable growth across the movement.