Churches' Mutual Credit Union

Not to be confused with London Mutual Credit Union.
Churches' Mutual Credit Union
Founded 2014
Type Industrial and Provident Society
Location
  • 3 Beaufort Buildings, Gloucester GL1 1XB
Website cmcu.org.uk

Churches' Mutual Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Gloucester and operating throughout the United Kingdom. Arising from a consultation among Church of England clergy on pensions and retirement housing,[1] the credit union was formed in collaboration by the Church of England, the Church of Scotland, the Methodist Church of Great Britain, the Church in Wales and the Scottish Episcopal Church in 2014.[2][3][4]

Membership of Churches' Mutual Credit Union is currently restricted by common bond to individuals holding a recognised position within the Anglican churches of Great Britain, the (Presbyterian) Church of Scotland and the Methodist Church in either a paid or voluntary capacity.[5]

A member of the Association of British Credit Unions Limited,[6] registered under the Industrial and Provident Societies Acts, Churches' Mutual Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and PRA. Ultimately, like the banks and building societies, members' savings are protected against business failure by the Financial Services Compensation Scheme.[7]

See also

References

  1. ↑ The origins of CMCU Churches' Mutual Credit Union (retrieved 18 October 2015)
  2. ↑ Archbishop supports new Churches Mutual Credit Union Association of British Credit Unions, 11 July 2013
  3. ↑ Methodist church agrees to join CMCU Association of British Credit Unions, 31 January 2014
  4. ↑ Churches Mutual Credit Union launched Association of British Credit Unions, 12 February 2015
  5. ↑ Joining CMCU Churches' Mutual Credit Union (retrieved 18 October 2015)
  6. ↑ Credit unions in membership of ABCUL Association of British Credit Unions (retrieved 1 November 2014)
  7. ↑ Credit Union Guide Financial Services Compensation Scheme (retrieved 2 April 2015)

External links


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