Celebrating ten-years of Joining Forces: building financial resilience
A decade of partnership between three leading credit unions has helped thousands of Defence people save, borrow responsibly and build financial resilience.
On Monday 19 January, at the Palace of Westminster, guests celebrated the tenth anniversary of Joining Forces – a collaboration consisting of Serve & Protect, First Defence Finance, and Forces Finance (part of London Mutual Credit Union), working with the MOD to offer tailored financial services for Defence people.
The anniversary reception brought together staff and directors from the credit unions, uniformed and civilian Defence personnel, and representatives from trade bodies, armed forces charities and financial organisations.
Credit unions differ from traditional banks. They operate as not-for-profit financial cooperatives, owned and run for their members’ benefit. Any surplus is returned to members through competitive dividend rates on savings or used to help improve the range of products and services available, rather than being distributed to external shareholders.
Joining Force 10 Year Anniversary Event Highlights - (MODNET access)
JFCU 10 Year Anniversay Video - (non MODNET access)
A decade of impact
Joining Forces now supports over 28,000 members – approximately one in seven of the UK's Armed Forces personnel. Collective savings exceed £12.4 million, while more than £72 million in loans have been issued at fair, affordable rates.
For many members, they can access credit that might otherwise be unavailable or unaffordable. Common uses include consolidating existing debt, purchasing vehicles, covering relocation costs, and saving towards visa fees for non-UK personnel settling with their families.
Joining Forces helps to enhance life skills in the Defence community through regular base visits, briefings at training establishments, online webinars, and informal guidance for those experiencing financial difficulties. This educational element complements the practical financial products available for members.
Speaking at the anniversary event, Minister for the House of Lords, Lord Coaker said:
“Joining Forces – what a great name… I think words matter and ‘Joining Forces’ really captures what the credit unions are all about, the work they do, and the work our Armed Forces do.
“Standing together, solidarity, looking out for each other, not letting someone pass by when they need help – that’s the epitome of our Armed Forces and why we’re so proud of them. The fact that Joining Forces delivers its service in a way that supports those values is highly commendable and truly appreciated.”
Director Armed Forces People Policy, Sarah Houghton said:
“The work of Joining Forces is a fantastic example of the Armed Forces Covenant in action. It is about making sure that the whole of our Armed Forces community – serving personnel, reservists, veterans, families and the bereaved – are supported and not disadvantaged.
“Ten years is no mean feat, and I thank Joining Forces – and our colleagues in Defence who work with them – for all that that they have done and continue to do to make the collaboration such a successful part of the Offer for our people.”
Access to Joining Forces
Membership with the credit unions is available to Regular and Reserve personnel, veterans, and their families – with repayments taken directly from military pay or pension. Defence civil servants can also join and pay via direct debit.
The payroll deduction model is simple but effective: savings and loan repayments leave your pay before you see it, removing the temptation to spend first and save later.
Real impact for real people
Speaking with BFBS Radio, former Army Sergeant Major, Paul Carney OBE shared his story:
“I went through quite a difficult divorce, and money disappeared very, very quickly – and then before I knew it, I had a mountain of debt behind me. I had the ability to service that debt but not really to clear it. The credit union allowed me to be seen as a human being and centralise and pay off that debt sensibly.
“I’ve talked very much about pulling myself out of financial hardship, but I would encourage those most junior military members to be building up their saving pot from day one. That’s the other part of these credit unions – it’s about getting your money working for you in the best possible way.”
The journey to launch
· The road to Joining Forces began with a 2013 newspaper article proposing credit union services for the UK Armed Forces, inspired by the success of America's Navy Federal Credit Union and championed by MP Gareth Thomas.
· A Westminster Hall debate followed in April 2014, then a Ten-Minute Rule Bill in May.
· By December 2014, the MOD had issued an Expression of Interest.
· In March 2015, the three participating unions were announced ahead of official launch on 15 October 2015.
On Monday 19 January, at the Palace of Westminster, guests celebrated the tenth anniversary of Joining Forces – a collaboration consisting of Serve & Protect, First Defence Finance, and Forces Finance (part of London Mutual Credit Union), working with the MOD to offer tailored financial services for Defence people.
The anniversary reception brought together staff and directors from the credit unions, uniformed and civilian Defence personnel, and representatives from trade bodies, armed forces charities and financial organisations.
Credit unions differ from traditional banks. They operate as not-for-profit financial cooperatives, owned and run for their members’ benefit. Any surplus is returned to members through competitive dividend rates on savings or used to help improve the range of products and services available, rather than being distributed to external shareholders.
Joining Force 10 Year Anniversary Event Highlights - (MODNET access)
JFCU 10 Year Anniversay Video - (non MODNET access)
A decade of impact
Joining Forces now supports over 28,000 members – approximately one in seven of the UK's Armed Forces personnel. Collective savings exceed £12.4 million, while more than £72 million in loans have been issued at fair, affordable rates.
For many members, they can access credit that might otherwise be unavailable or unaffordable. Common uses include consolidating existing debt, purchasing vehicles, covering relocation costs, and saving towards visa fees for non-UK personnel settling with their families.
Joining Forces helps to enhance life skills in the Defence community through regular base visits, briefings at training establishments, online webinars, and informal guidance for those experiencing financial difficulties. This educational element complements the practical financial products available for members.
Speaking at the anniversary event, Minister for the House of Lords, Lord Coaker said:
“Joining Forces – what a great name… I think words matter and ‘Joining Forces’ really captures what the credit unions are all about, the work they do, and the work our Armed Forces do.
“Standing together, solidarity, looking out for each other, not letting someone pass by when they need help – that’s the epitome of our Armed Forces and why we’re so proud of them. The fact that Joining Forces delivers its service in a way that supports those values is highly commendable and truly appreciated.”
Director Armed Forces People Policy, Sarah Houghton said:
“The work of Joining Forces is a fantastic example of the Armed Forces Covenant in action. It is about making sure that the whole of our Armed Forces community – serving personnel, reservists, veterans, families and the bereaved – are supported and not disadvantaged.
“Ten years is no mean feat, and I thank Joining Forces – and our colleagues in Defence who work with them – for all that that they have done and continue to do to make the collaboration such a successful part of the Offer for our people.”
Access to Joining Forces
Membership with the credit unions is available to Regular and Reserve personnel, veterans, and their families – with repayments taken directly from military pay or pension. Defence civil servants can also join and pay via direct debit.
The payroll deduction model is simple but effective: savings and loan repayments leave your pay before you see it, removing the temptation to spend first and save later.
Real impact for real people
Speaking with BFBS Radio, former Army Sergeant Major, Paul Carney OBE shared his story:
“I went through quite a difficult divorce, and money disappeared very, very quickly – and then before I knew it, I had a mountain of debt behind me. I had the ability to service that debt but not really to clear it. The credit union allowed me to be seen as a human being and centralise and pay off that debt sensibly.
“I’ve talked very much about pulling myself out of financial hardship, but I would encourage those most junior military members to be building up their saving pot from day one. That’s the other part of these credit unions – it’s about getting your money working for you in the best possible way.”
The journey to launch
· The road to Joining Forces began with a 2013 newspaper article proposing credit union services for the UK Armed Forces, inspired by the success of America's Navy Federal Credit Union and championed by MP Gareth Thomas.
· A Westminster Hall debate followed in April 2014, then a Ten-Minute Rule Bill in May.
· By December 2014, the MOD had issued an Expression of Interest.
· In March 2015, the three participating unions were announced ahead of official launch on 15 October 2015.
Looking ahead
As Joining Forces enters its second decade, it continues to demonstrate how tailored financial services can support the unique circumstances of Service life – from frequent relocations to overseas postings, to building long-term financial resilience.
The first months of the new year are traditionally a time when people reassess their finances. For service personnel and their families and Defence civil servants, Joining Forces offers a trusted partner in that journey. Whether you're looking to start saving, clear debt, or simply take control of your money in 2026, the 'set and forget' approach of payroll deduction can be a straightforward way to start.
Find out more
For information about Joining Forces Credit Union services, visit www.joiningforcescu.co.uk or search 'Joining Forces' on Discover My Benefits.