Manchester Credit Union has moved to a new city centre office, marking a growth for the business and an upsurge in demand from customers.
The move to the new premises at 24 Queen Street has allowed for five new members of staff to cope with demand from new membership.
Since 2000 Manchester Credit Union has lent more than £60m to members living or working in Manchester, and in the last 12 months – from June 2017-July 2018 – 5,915 new savings accounts have been opened, 14,947 loans have been granted totalling £8.8m and the credit union has saved people more than £5 million in interest.
Chief executive Christine Moore said: “We are delighted to have moved to new premises to meet the demand from new members and to have created more staff positions within the organisation.
“It was important to us to stay within the heart of the city to be accessible and we have already seen an increase in our footfall, with the premises being more visible. We hope to see a continued growth in membership to help more people to save.”
To coincide with the move and increase in business, Manchester Credit Union has launched a Gold Saver account available to individual and corporate members.
It has a dividend that is 1.5% higher than the organisations instant access accounts and is aimed at longer term savers, who seek a higher return as they don’t need regular access to their money.
Christine said: “We really want to encourage corporate members to join the Gold Saver as it is a great way to boost corporate social responsibility, and help to keep money in peoples’ pockets and in the local economy.”
Friend to the stars
Manchester Credit Union is also making famous friends – getting the support of actor and activist for the End High Cost Credit Alliance, Michael Sheen, who met with CEO, Christine, at the Affordable Credit Showcase in London – and praised the organisation for the impact it is having.
Christine added: “We are delighted to have the backing of Michael on the next part of our journey and would urge people to come in and see how much they could save and borrow with a responsible lender.”
The new Manchester Credit Union office will be open Monday to Friday, between 9am and 4pm.