×


Home About Contribute Media Kit Contact Sign In
×







.


Finance Industry News

Manchester Credit Union celebrates 30th anniversary as savings pass £12.5M


Manchester Credit Union is in its 30th year, starting out in 1991 with 103 members and now the savings and loans provider supports 32,000 members.

  • By
Manchester Credit Union celebrates 30th anniversary as savings pass £12.5M


"More and more Mancunians are turning to us as they look for an organisation that really cares about them, and their city."
Chief executive Christine Moore



Savings and loans provider Manchester Credit Union has reached a milestone of £12.5million savings by its Mancunian members as it celebrates its 30th anniversary. 

Starting up as Beswick and Openshaw Credit Union in 1991, it evolved into Manchester Credit Union and now serves 32,000 members across the city, as well as Bury, Rochdale, Tameside, Trafford, and the High Peak.

The credit union, a financial co-operative that is owned by its members, has seen demand for their services rise since the pandemic hit, as the city’s residents turn to local, ethical and affordable loans and savings products. 

Chief executive Christine Moore said “When I first joined in 2000 there were 103 members and I was the first, and only, paid member of staff.  

“Today we have more than 32,000 members and all day-to-day transactions are handled by a fantastic team of 23 staff. We estimate that we save local people in excess of £5million in loan interest each year, compared to doorstep and other high-cost lenders. When they borrow from us, we actively encourage all our members to save with us by transferring a small amount of their loan repayments into a savings account to help them build up a pot of savings for a rainy day. 

“More and more Mancunians are turning to us as they look for an organisation that really cares about them and their city - and it keeps money in Manchester, rather than in the pockets of external shareholders. 

“We would not be where we are today without the unfailing support and hard work of the staff, directors, and most importantly the volunteers from all the pioneering credit unions who are now part of the Manchester Credit Union family.” 

To celebrate their 30th anniversary, Manchester Credit Union is giving one lucky winner a hamper packed full of Manchester-made goodies worth £200. To enter the competition, click here.

.


Finance Business News - South Manchester based accountancy firm Leavitt Walmsley Associates LWA are thrilled to announce they are due to return as an official Manchester Storm sponsor for the 20 21 Ice Hockey Elite Series LWA first came on board with the local club during the 2017 18 Elite League season and have continu...


LWA Return as Official Sponsor for the 2021 Ice Hockey Elite Series

Finance Business News - With the world facing the greatest public health crisis in living memory and public sector borrowing at record levels, leading economic historian, Dr George Maher, argues that the root causes of many of the economic disasters of our time are much the same as those of the Roman Empire.


Pugnare - George Maher's lessons from the economic collapse of Rome

Finance Business News - A North-East based fintech firm has been launched with the aim of digitally transforming the way private equity firms, venture capital funds and angel investment networks currently manage the end-to-end investment process.


Fintech firm digitally transforming the investment sector

Finance Business News - Financial adversity is at the forefront of many retail SME leaders agenda.


How Retail SMEs Can Transform Their Finance Department After a Pandemic

Finance Business News - With IPO s trending, it can seem pedestrian to want to retain control of your company. But there are many compelling reasons to do so. So while everyone else is listing, let s go through the reasons not to.


Why entrepreneurs should keep companies private

Finance Business News - Entering a flash recession, with signals the UK economy is already on the recovery following the financial difficulties of the coronavirus pandemic, there s never been a more important time to secure additional investment for SMEs to help continue growth for their business.


5 Types of Investments That Will Help Fund Your SME






Ten Times Ten

We transform your bright ideas into brilliant digital products.