Morses Club acquires Eccles Savings & Loans

Morses Club, the UK’s second largest home collected credit lender, has announced the acquisition of the business and assets of Eccles Savings & Loans (Eccles Finance), a home collected credit lender.

Eccles Finance is a family-run business, which has been active in home collected credit for over 50 years. Based in the North West of England, Eccles Finance has 3,000 customers and loan balances of c.£1.4m. Eccles Finance is authorised and regulated by the Financial Conduct Authority.

Paul Smith, Chief Executive Officer of Morses Club, said “We are delighted to announce the acquisition of another well-established regional home credit business with a high-quality loan book that further expands Morses Club and strengthens our position in a competitive market. This acquisition is in line with our stated acquisition strategy and we intend to make further earnings accretive acquisitions as and when the opportunities arise.”