Serve and Protect Credit Union and National Fire Saver Credit Union are pleased to announce their intention to merge, subject to regulatory approval.
At their Annual General Meeting on 15 July 2024, the members of National Fire Savers overwhelmingly voted for a merger with Serve and Protect. This decision was formally ratified during a Special General Meeting held on 30 July 2024.
This strategic merger combines the strengths of both National Fire Savers and Serve and Protect Credit Unions and is all about creating even more amazing benefits, a wider range of products, and a stronger sense of community for our members. The merger will ensure that we can meet our member’s financial needs through every stage of there career and beyond, making sure our credit union is more robust and better equipped to support those who dedicate their lives to serve and protect.Â
Although the National Fire Savers Credit Union has achieved significant success, its directors recognised the necessity of expanding its membership, attracting more fire services via payroll deduction schemes, and enhancing the services offered to members. Directors of National Fire Savers concluded that a merger with Serve and Protect would be the most effective strategy to address the future needs of their members.
Scheduled for completion in 2024, the merger will facilitate significant growth for Serve and Protect Credit Union. The consolidated assets are expected to exceed £100 million, serving a membership base of over 50,000 individuals.
As the merger progresses, both credit unions will share more information through their official websites and other relevant communication channels.
Who are National Fire Savers?
National Fire Savers is a dedicated credit union serving active and retired firefighters, fire and rescue service personnel, as well as employees of the Firefighters Charity, Welfare Funds, and the Fire Brigades Union.
Established in 1998, the National Fire Savers Credit Union initially served staff of the London Fire Brigade, known then as the London Fire Savers Credit Union. Following twelve years of noteworthy success, it was decided that firefighters and fire and rescue service personnel across the United Kingdom should have the opportunity to benefit from the services of the Credit Union. Consequently, in 2010, the eligibility was expanded to include all fire service staff in England, Scotland, and Wales, leading to the rebranding as the National Fire Savers Credit Union.
Today, the credit union supports over 3,000 members, managing £9 million in savings, with loans exceeding £3 million to its members. This makes it the largest credit union in the UK dedicated exclusively to serving the fire and rescue services sector.
