Two of the city’s leading co-operatives have joined forces to help support hard working Mancunians.
Manchester Credit Union and Unicorn grocery shop in Chorlton have formed a partnership to mark Co-operatives Fortnight – organised by Co-operatives UK – to highlight how working together can make a difference.
Unicorn has signed up to a free payroll scheme from Manchester Credit Union to enable its workers to save and borrow through their pay packet.
Sam Donnan, a co-operative grocer at Unicorn, was motivated to join the payroll scheme to help staff avoid getting caught out by a lack of savings.
He said: “I wanted to encourage our staff members to be more financially prepared with an easy way of saving.
“We all live and work in Manchester and it’s good to know that by being a part of Manchester Credit Union, the money that is invested stays local and will hopefully support other communities and residents.
“In a member owned business we see every day the strength in working together, and this mirrors perfectly with the aims of Manchester Credit Union.”
Manchester Credit Union, based on Brazennose Street in the city centre, provides savings and loans for people who live and work in the city and has helped members save £3 million in loan interest compared to some doorstep lenders and credit cards in the past 12 months.
Chief executive Christine Moore, said: “We’re proud to be working with the Unicorn and offering a local alternative to high street banks and shops in a way that really does benefit the city that we all love.
“We hope the Unicorn’s decision to join a raft of payroll partners will inspire other employers, large and small, to join the scheme.”
Both organisations reflect the city’s growing economy of co-operatives- which are distinct from other businesses as they are owned and democratically managed by members, meaning all income generated stays within the local economy.