They were started in the Midlands in 1991 and grew until membership in 2001 was 180 They were followed by North London in 1994 with approximately 40 members but no growth by 2001 Yorkshire started with a savings group 1997.
By this time the regulator, the Registrar of Friendly Societies was taking more interest and a two-year training programme was undertaken leading up to a two-hour interview with a representative of the registrar. They were finally registered in January 1999.
Late in 1999 Government announced that credit unions would come under the Financial Services Authority and with the increase in legislation which followed it became apparent that the three credit unions could not survive individually. Talks took place between the credit unions and the Board of the Oddfellows to seek their sponsorship which resulted in Manchester Unity Credit Union Ltd coming into being on 1st September 2001, with a common bond covering England, Scotland and Wales.
Membership today has passed the 600 mark and the Credit Union has its own administrator based in Manchester
Want to find out more?
Visit the Manchester Unity Credit Union website, or get in touch with their team:
Telephone – 0161 214 4629
Email – info@mucu.org.uk
Copyright British Credit Union Historical Society 2018 – All rights reserved
British Credit Union Historical Society 