More than 50,000 people across Great Britain could soon be able to join a credit union after the Government announced a reform to membership rules on 11 November 2026. The change will let existing members who move away from their credit union's area refer relatives or household members for membership. At present, people can only join a credit union if they share a 'common bond' with its members — living in the same area or working for the same employer. That rule has left tens of thousands of people unable to refer family members once they move away, even though they remain members themselves. ## What the reform changes Under the proposed change, a member who relocates will be able to refer relatives or household members, who can then use its savings and small loans. The Government says the change could benefit more than 50,000 people, based on Bank of England data. Economic Secretary to the Treasury Lucy Rigby said credit unions "are at the heart of communities up and down the country, offering a trusted route to access affordable finance, facilitating greater household resilience and promoting financial inclusion." ## Part of a wider expansion The reform was announced at the second reading of the Financial Services and Markets Bill. It builds on earlier changes, including raising the membership cap for local credit unions from three million to ten million people, allowing students to join their local credit union, and letting members of employment-based credit unions refer relatives after retirement. The industry welcomed the move. Matt Bland, chief executive of All Together Money, called it "another positive step towards creating a more flexible legislative framework" for credit unions. The package aims to double the sector's size, giving more households an alternative to high-cost credit. Sources: [The London Weekly](https://thelondonweekly.net/uk-news/12524-uk-government-moves-to-expand-credit-union-access-and-strengthen-financial-inclusion) and [BritainsNews](https://britainsnews.co.uk/article/affordable-finance-access-for-tens-of-thousands-more-people)