Credit unions join forces for new chapter

A credit union in Inverclyde has merged with a Paisley-based credit union.

Greenock-based Tail O’The Bank Credit Union (TOTB CU) has completed a merger with Right Way Credit Union which has its head office in Paisley.

The merger was completed at the beginning of April.

The move follows last September’s vote of approval by TOTB’s board and members, prompted by increased regulatory reporting and falling numbers of volunteers to help with the running of the business, which led to increased pressure on the volunteer board.

Right Way CEO Karen Wallace added: “Celebrating the merger marks an exciting new chapter for both our credit unions.

“By joining forces, we’re not only expanding our reach to serve over 11,000 people across the west of Scotland but shows our commitment across the credit union sector in delivering exceptional member service.

The merger will see a wealth of opportunities ensuring that we can better support our valued members in achieving their financial goals.”

The change saw TOTB members move over to Right Way branded accounts with a small change to account numbers during the transfer.

The rebranded TOTB office on Kilblain Street, Greenock, will remain open, however, there will be changes made to the local branch opening times.

In recent years, the not-for-profit organisation has seen a reduction in the number of volunteers who help with the day-to-day running of the business along with an increase in regulatory reporting.

Members of TOTB CU will now be able to access their accounts online with a mobile app without having to visit the branch in Greenock.

For more information on the range of products and services from Right Way Credit Union, visit www.rwcu.co.uk.