The Churches Mutual Credit Union (CMCU) is a new credit union formed by the Church of England, the Church of Scotland, the Methodist Church,the Scottish Episcopal Church and the Church in Wales. It aims to show banks and pay day lenders a fairer approach to finance.
The CMCU will offer a range of savings and loan products and fairness will be at the heart of the CMCU's values. Initially members were able to invest in the 'Founder Member's Bond' and ordinary savers accounts and loans are now available. In due course CMCU will offer ISA savings accounts.
At least 60,000 people across the UK, notably ordained ministers, elders, employees and trustees of churches and church charities are eligible to join, along with churches and Church of Scotland and Anglican charities.
Find out more at the CMCU website