Credit union merger expands services across Bolton and Bury

Hoot Savings & Loans, based in Bolton, has joined forces with Manchester Credit Union (MCU) to form a larger not-for-profit organisation focused on ethical lending and saving.

The move brings Hoot’s members under the Manchester Credit Union brand.

Mandy Wilcock, CEO of Manchester Credit Union, said: “Bringing Hoot into Manchester Credit Union is great news for members of both organisations.

“A stronger combined asset base means we can lend more to more people at competitive rates, and expand our product offering too.

“But beyond the numbers, this also means we can reach more communities where access to fair and affordable financial services really matters and is most needed.

“We warmly welcome the Hoot team and members to the Manchester Credit Union community.”

The merger increases MCU’s membership to 36,500, expands its reach across Bolton and Bury, and brings its total savings portfolio to £19.3 million and loan book to £18.6 million.

Both credit unions are member-owned and focused on providing ethical financial services, particularly to individuals underserved by mainstream banking.

Chris Canham, CEO of Hoot, said: “This is the right next step for Hoot members, and now the deal is done, it’s time for me to retire.

“Manchester Credit Union’s values have always aligned with our own, so this merger was an easy decision.

“I’m proud of what we achieved as Hoot, and know our members are in the best hands with Manchester Credit Union.”

Ms Canham was instrumental in the merger, which also coincides with her decision to retire after 13 years with Hoot and two at the helm.

Hoot’s branch on Victoria Square in Bolton will remain open, and its staff will transition to the MCU team.

Members do not need to take any action; accounts will transfer automatically.

The Bolton and Bury areas will also benefit from Manchester Credit Union’s community outreach programme, which includes a free financial education roadshow for primary school children.