British Credit Union Historical Society

          Promoting Unity-Preserving the Past-Educating the Present-Enriching the Future

Carol Jan Lorraine Angie

Metro Moneywise Credit Union Ltd

November 1988 was when employees were invited to a presentation at the Champness hall on Drake Street by Man and wife team from Merseyside buses

The attendance was by about 15 people from across the departments

How it came about

In 1989 a steering group was formed study sessions were held with Len Nuttall at the beginning and later Lesley Bird both from ABCUL(Association of British Credit Unions).
The concept of a credit union for council workers was born.

The Steering Group
Metro Rochdale Employees Credit Union
At meeting in the town hall someone said let us throw a pound in the kitty and get this ball rolling. The President and treasurer were proposed all voted and others took up positions for the various committees.
We now had a basis to practice amongst our selves the task of starting the Credit Union

The Study Group
There was a lot of support for the credit union and two attempts were required for the signing as not all Study group members could turn up for the signing due to work commitments and Holidays
Metro Rochdale Employees Credit Union
The Metro Rochdale Employees Credit Union was registered in August 1990 No.213C
Since then the credit union has grown significantly in terms of membership,loans to members, interest earned,dividends, assets and general reserves.

Presentation to Founders at Castleton Comrades Club Jim Dobbin MP Presenting 
Brian Holden Treasurer Pauline Howarth asst Treasurer
Julian Waldron Secretary Jim Clancy Vice president
Marilyn Aldred development worker Ann Antrobus Treasurey Roger Baldry President
Not all could attend



In the 90's


A year later we were on the move to a new office on the 3rd Floor of the Municipal offices

 Five of the original Member of the first board are still part of the Board and various committees and attended the 25year celabration on 26th October 2014 

The Road to sustaiabil;ity

Annual meeting 1991 The early years the credit union auditors were Appleby and Wood of Bolton

1993 Retired members came under discussion for continued membership alas it was not possible in those early days

1994 saw the money laundering regulations come in to force and the credit union required a money laundering officer.
The AGM that year elected to a change of Auditors

1995 the auditors were confirmed as Beever & Struthers and have been the auditors ever since

30th of November 1996 Lorraine Mark-Bell became the Credit Union’s first part time employee

The deregulation bill (Credit Unions) order 1996 came in to being.
The Board would now review lending policy in light of the deregulation.

 From 1996 to’97and ‘98 the Board of directors worked on a business plan for the next 3 years. The name Metro Moneywise was chosen in the year.

Kirkholt Community Credit Union was supported at this time with training and conference fees.

Retired members retain membership (Known as associate members)

Membership increase with NHS Extra part time employee (Carol), Acquire premises
Investigate mergers with other Credit Unions.

Safe as houses was one of the first news letters produced after 1999.
Includes application form for membership and payroll deduction form.

The New Millineum

Interest news letter from 2003 keeps members informed and Angie is now part of the team
The move to Globe House has been a success and the staff are happy with the facilities

2004 This year we have expanded our services to Rochdale Heywood and Middleton Primary care trust and Pennine acute NHS Hospitals

2005 £1000 Loan available to New Members
Ratio for borrowing increased to 5 times shares + £300

2006 Jan joins the team of employees now to 4.

2007 New logo New Web Site
For the first time members are able to look up to their account details
Access to all forms calculate cost of loans

2008 Brian Holden Retires as Treasure and John Jones takes up the post

Brian was one of the key Founding Fathers of the Credit Union.
The dividend declared for 2008 still at 4%

The recession hits the country and Moneywise still going strong.

September 2011 Greater Manchester Probation Trust joins Metro Moneywise

Despite the recession the dividend paid for 2011was 2.75%

2012 the legislation Reform order comes in to being.
Less restrictions for Credit Unions
The board of Directors will keep abreast of the changes and access the benefits in the future

2013 Eligibility for Membership changed to anyone who is employed and whose employer will agree to payroll deduction.
Dividend paid at 2.25%

2014 the post of marketing is established and membership has passed the 6000 mark
New loan products have been introduced at various rates of interest below 1.5%

2015 Alex Joins the team of 5 employees and Metro Moneywise celebrates 25 years. Heres to the next 25 years

2016 Founding member Julian Waldron sadly passed away He like others in the movement is remebered on the ROLL of HONOUR page.

2017 Diane Joins the team as Finance Manager in August and Megan in october as Admin.

30th of November 2017 Lorraine Leaves after 21 years of dedicated service.

 right click and Open in new link 

 past news letters and docs plus video of Old Co-op Building Rochdale 1990 Signing up


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Latest comments

18.08 | 14:55

I am very proud to be a part of the credit union and the ethos of people helping people.

Congratulations to No1 CopperPot.

14.07 | 04:57

A very inspiring and educational experience. It awaken my interest to serve the community.

01.07 | 13:06

As schools Development Worker for Unify Credit Union, I found the schools project resources very useful.... some really good ideas, Thank you x

19.11 | 15:49
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