All you need to know about our Proposed Merger with Chesterfield & & North-East Derbyshire Credit Union

We are writing to let you know that the Board of Derbyshire Community Bank (DCB), the trading name of Erewash Credit Union, has agreed in principle to a merger with Chesterfield & North-East Derbyshire Credit Union (CNEDCU). This is subject to approval by CNEDCU’s members and final authorisation from the Financial Conduct Authority (FCA). 

Who is Chesterfield & North-East Derbyshire Credit Union (CNEDCU). 

CNEDCU is a well-established, community credit union based in Chesterfield. Like us, they serve people who live or work anywhere in Derbyshire or Derby City, although most of their members are based in the Chesterfield and North-East Derbyshire areas. They currently have: 

• Just under 4,000 members 

• Around £600,000 in member savings 

• Around £525,000 in loans to members 

 What Does the Merger Involve? 

If the merger goes ahead, CNEDCU will carry out what’s known as a Transfer of Engagements to DCB. This means all CNEDCU members will become DCB members, and: 

• Their savings and loans will transfer under the same terms and conditions 

• They will gain access to DCB’s full range of products and services 

• They will be eligible for any dividend we may pay to savers in future 

Once completed, the merger will create a single, stronger credit union serving the whole of Derbyshire and Derby City. We believe this will: 

• Strengthen our voice with local councils and community partners 

• Improve efficiency by reducing duplicated costs (such as audit, technology, and regulatory fees) 

• Allow us to reinvest more into member support and services 

What It Means for You 

You don’t need to do anything. The merger won’t affect your membership, savings, or any existing loans. 

Next Steps 

Under our rules, decisions like this are delegated to the Board. The members of CNEDCU will vote on the proposal through two special general meetings in the coming weeks. If approved, we expect the merger to be finalised by September 2025. 

If you have any questions, feel free to contact us at info@dcbank.org.uk