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 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.
All these changes have made the running of TOTB more challenging for their volunteer board of directors.
Back in September 2023, TOTB CU Board of Directors and members voted for the merger with Right Way.
TOTB union first opened in 1984 as Greenock East Credit Union and later became Tail O’ The Bank and celebrated its 40-year anniversary in March, this year.
Karen Wallace, Chief Executive Officer of Right Way Credit Union, 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 service.
“The merger will see a wealth of opportunities ensuring that we can better support our valued members in achieving their financial goals.”
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.