LCU

Special General Meeting

Notice of A Second Special General Meeting (SGMs)


We hereby give notice of a second Special General Meeting of Liberty Credit Union Ltd (LCU) to be held as follows:

Special General Meeting (SGM) Details:

Please note this notice is for a second SGM, following the first being conducted on 23rd April.

Purpose of the Meeting

The purpose of this meeting is for the members of Liberty Credit Union to conduct a second vote on a proposal to merge with Plane Saver Credit Union Ltd. This merger is a significant opportunity that will strengthen our services and provide greater benefits to all members. The merger involves the transfer of all the assets and liabilities of Liberty Credit Union to Plane Saver Credit Union.

Background

This meeting will be the second of two required to approve the proposed merger with Plane Saver Credit Union. The resolution asks members to approve the merger, which will bring the following benefits:

  1. Enhanced dividends/savings interest: Members of LCU would be eligible to receive a 1.75% dividend and up to 3.75% on their savings account.
  2. Improved services: LCU members would benefit from enhanced products, services, and technology offerings.
  3. Better rates and terms: The increased efficiency and economies of scale could allow LCU members to benefit from lower, more competitive dividends and interest rates on savings and loans in many instances.
  4. Access to additional loan products: As part of Plane Saver, LCU members will have access to additional loan products such as car and business finance loans.  Moreover, our members could apply for loans as large as £35,000 (larger amounts for business loans).
  5. Greater financial education resources: A larger entity could invest more in financial literacy programs and workshops to benefit to communities of Borough of Havering, Barking & Dagenham or Redbridge.
  6. Increased community impact: The combined resources would allow for greater investment in local communities.
  7. Enhanced stability and security: LCU members would benefit from the financial stability of the larger entity.
  8. Discount Network: LCU members would benefit from discounts on services like gyms, supermarkets, and insurance providers.

Resolution to be Proposed:

At this meeting, the following resolution will be presented:

“This meeting of members of Liberty Credit Union Ltd hereby resolves to transfer the stock, property, and other assets, and all engagements of the society to Plane Saver Credit Union Limited, in consideration of Plane Saver Credit Union Limited issuing to each member of Liberty Credit Union paid-up shares equal to the amount standing to the credit of each member in the share ledgers of Liberty Credit Union on the date when the transfer of engagements becomes effective.”

Voting Requirements:

For the resolution to pass at this meeting, a simple majority of the members present must vote in favour.

Zoom Details: https://us06web.zoom.us/webinar/register/WN_03LzVMsgQAiMAR1S-zh2Sw

Registration deadline: Thursday, 7th May 2026 at 9:00 AM

By order of the Board:
Martyn Warne, CEO
Date of Notice: 8th of May 2026