Cllr Kevin Peel and Manchester Credit Union Chief Executive Christine Moore outside the new branch
Manchester Credit Union expands with its first branch in the city centre opened on International Credit Union Day.
Manchester Credit Union - Greater Manchester's largest credit union - has existing branches throughout Manchester, Bury, Tameside, Trafford, Rochdale and the High Peak. The new branch and head office is its first foray into the city centre and is something local councillors have been keen to see for some time.
Credit unions are member owned financial co-operatives – any surplus made is re-invested in services or distributed fairly amongst its members. Anyone living or working in Manchester, Bury, Tameside, Trafford, Rochdale or High Peak can become a member. Across the UK there are over 520,000 members with savings of over £400 million in 330 credit unions.
Manchester Credit Union Chief Executive Christine Moore said:
"We were delighted to open our new flagship city-centre branch and head office on International Credit Union Day. This year’s theme, People Helping People, embraces the longstanding credit union philosophy on which credit unions in Britain are founded. Together with other credit unions across the Greater Manchester City Region we are offering a real financial alternative to people across the city."
Labour & Co-operative councillor Kevin Peel, who is a member of Manchester Credit Union, said:
"I'm thrilled that we finally have a branch in the city centre. There is a perception that credit unions are just for people who are less well off but the reality is that credit unions are for everyone. I use my credit union account to save money and me putting money in helps the union to lend money to people who need it who might otherwise be driven to payday lenders with whopping interest rates.
"This new city centre branch is a real coming of age for Manchester Credit Union and establishes it as an important mutual financial institution serving everyone in the city region. I would encourage all city centre residents to join and also to encourage your employer to sign up to the payroll scheme."
Visit the new branch in Heron House on Brazennose Street or find out more information about saving and borrowing with Manchester Credit Union and become a member online at www.manchestercreditunion.co.uk