Skip to main content

Churches launch major Credit Union

Image
By
A group of major Churches is promoting access to responsible credit and savings with the launch of the Churches Mutual Credit Union Ltd. (CMCU).
The Archbishop of Canterbury joined the Moderator of the General Assembly of the Church of Scotland and the President of the Methodist Conference, The Rev Ken Howcroft, at Church House in London, to celebrate their churches' collaboration in forming the flagship credit union.  
The CMCU, which also includes the Scottish Episcopal Church, and the Church in Wales, will offer a range of savings and loan products.  Fairness will be at the heart of the CMCU's values.  Initially members will be able to invest in the 'Founder Member's Bond' with ordinary savers accounts and loans becoming available in March.  In due course CMCU will offer ISA savings accounts.
At least 60,000 individuals, notably ordained ministers, licensed lay ministers, elders, employees and trustees of churches (e.g. Parochial Church Council members) and church charities are eligible to join, along with churches and Anglican and Church of Scotland charities as corporate members.

The President of the Conference, Ken Howcroft said, "Methodists are glad to support the launch of CMCU. The gap between rich and poor seems to be widening and leaving people without the resources to do new things, or even pushing them into crippling debt. When we recognise our interdependence we can share our resources to help each of us meet our needs. That is how we can all live life more fully. We wish the CMCU well."

Archbishop Justin Welsby said: " It is a notable strength of CMCU that it brings together churches from England, Scotland and Wales in this shared venture. I hope and expect that the experience of belonging to CMCU will encourage clergy and church workers to become increasingly effective advocates for credit unions in their communities."

Comments

Post a Comment

Popular posts from this blog

Soupermums! Wilsden Trinity Church

By
Do you have a young baby? Looking for something to do? If the answer is yes then Soupermums is for you. We're here from 11 until 1 every Monday, Mums (and dads) have a rest and the babies can play. Have a lovely sit down whilst you sip on a brew. Enjoy having someone else make lunch for you! Come along to Wilsden Church, meet the rest of the group. Lovely ladies cuddle the babies, whilst you eat your soup. Chat with the mums, new friends you will make. Swap tips and advice over a slice or two of cake. So what are you waiting for? come on along, For homemade treats, good company and if you're lucky a song. We're looking forward to meeting you, please come take a peek, 11-1 at Wilsden Trinity, we're here every week! Celine V  (a Soupermum!) Where can new mums go, to have lunch where it’s warm and safe and you get to eat fresh soup and homemade cakes, while someone holds your baby? Too big an ask? Not at Wilsden Trinity! Every Mond...
Post a Comment
Read more

Wrose Buddies - A wonderful success story at Wrose Methodist Church

By
Approached by the Halle Project in 2012 to see if we would be interested in setting up a Well Being Cafe, the church was excited at the prospect of setting up a monthly session for those who suffer from dementia or Alzheimer's, for their carers, for the lonely and housebound. Jean and John Watmough worked in conjunction with Carol at halle and put together a group who would provide once a month a haven for those with particular need. For various reasons it could not be called a Well Being Cafe, and so the name "Wrose buddies" was born. Carol organises taxis to bring people to the church hall once a month, lays on the entertainment, the music, a speaker, food. From the start a charge of £3 per person and a voluntary payment of £1 per strip for the raffle was asked for and willingly given. a group of volunteers was formed and meets once a month before the session to make preparations so that those attending have an afternoon to remember. At first numbers were reaching 20...
Post a Comment
Read more