TWO credit unions have completed a successful merger.

Local Greenock Credit Union Tail O’ The Bank (TOTB CU) has joined forces with Renfrewshire's Right Way Credit Union.

The move comes after TOTB CU Board of directors and members voted for the changes in September 2023.

In recent times, the not-for-profit organisation has experienced a reduction in volunteers, coupled with an increase to regulatory reporting.

These issues pointed to a more challenging environment for the volunteer board of directors, prompting the merger.

Joining forces with the Renfrewshire-based Right Way CU, a well-established community credit union with over 5,000 members across the West of Scotland, is seen as a strategic move towards long-term sustainability and growth for TOTB CU and its members.

Karen Wallace, CEO of Right Way CU, hailed the merger as the dawn of a beneficial chapter for the two credit unions and said: "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 services.

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

The Gazette: The merger was approved by the TOTB CU board of directors and members in September 2023

Following the merger, the credit union members in Inverclyde can anticipate an enhanced level of services, including an improved online platform featuring a mobile app.

The mobile app will enable members to access their accounts on the move without making physical visits to the office on Kilblain Street.

Nonetheless, the office will continue to serve those who choose to visit in person.

For further information concerning the range of products and services availed by Right Way CU, interested parties are directed to www.rwcu.co.uk.