SoundPound Sets Vision for Stronger Financial Inclusion Infrastructure Across Greater Manchester

27/08/2026

SoundPound has set out its ambition to play a greater role in supporting financial inclusion across Greater Manchester, as its latest Impact Report highlights the scale of the credit union sector’s contribution to communities across the city region.

The consortium brings together 14 credit unions, providing ethical and community-owned finance across all 10 Greater Manchester boroughs. Together, the organisations have more than 160,000 members, with £255 million in savings and almost £175 million on loan. The report estimates that lending through SoundPound credit unions generated up to £188 million of economic activity across Greater Manchester during 2025.

The report also highlights the importance of partnership working in developing practical solutions to some of the financial challenges facing local communities. SoundPound has developed a close working relationship with the Greater Manchester Combined Authority’s financial inclusion team, with the organisation recognising that financial inclusion cannot be delivered by credit unions alone.

One example is the partnership with Transport for Greater Manchester, which has helped around 300 people spread the cost of annual travel through Bee Network travel loans. Borrowers saved an average of £240 a year by accessing annual travel passes and repaying the cost over manageable monthly payments.

The Bee Network initiative is one of several examples highlighted in the report of how credit unions are responding to specific financial pressures. During 2025, SoundPound credit unions also supported at least 14,000 first-time savers, provided nearly £169,000 in finance for green home improvements and invested more than £241,000 in local social enterprises.

The report also highlights the role of payroll saving, with SoundPound now working with 375 employer partners and providing around 66,000 employees with access to workplace saving schemes.

Looking ahead, the organisation says it is moving from collaboration towards developing shared infrastructure that can support the delivery of ethical finance at greater scale, while retaining the local relationships and community focus of individual credit unions.

Its priorities include expanding access to fair finance for underserved communities, helping more people build financial resilience through saving, developing products that respond to pressures such as transport, energy and household costs, and strengthening partnerships with employers, the Greater Manchester Combined Authority and other regional organisations.

The report also identifies a wider role for SoundPound in the future of Greater Manchester’s financial inclusion infrastructure. This could include creating clearer pathways for people who have been declined elsewhere, using data to identify financial need earlier and connecting people with the right support rather than simply providing another source of credit.

With further joint projects with regional partners in development for 2026, SoundPound says the next phase will focus on scale, efficiency and system leadership, building on the collective strength of Greater Manchester’s credit unions to create a financial system that works for more people.

The full SoundPound Impact Report 2025 is available here:

https://www.soundpound.co.uk/wp-content/uploads/Impact-report_v2.pdf