for people, not profit Overview of Manchester Credit Union (MCU) Christine Moore - CEO

Manchester Credit Union is a live or work credit union which has expanded over the last 11 years to cover half of the Greater Manchester City Region. Expansion mainly due to requests for credit union services from areas with no credit union, and also transfers from other credit unions in the city region. Focus has been working to tackle financial exclusion in low income communities, which is always at the heart of what we do, but we aim to diversify our membership and recruit more middle income members, in particular as savers. New flagship branch opened in Manchester city centre on International Credit Union day 2015 All initiatives we have been involved in over the last few years have re-inforced the ‘poor man’s bank’ image.

New flagship branch opened in Manchester city centre on International Credit Union day 2015

Manchester Credit Union is outlined in blue and overlaps some other smaller credit unions, although we do not advertise our services in those areas.

Today we have: 29,000 + active members £6.5 million savings balances/£8.3 million out on loan 5 branches in the city of Manchester and outlets in Bury, Rochdale, Tameside, Trafford and the High Peak Payroll partnerships with 50+ employers All initiatives we have been involved in over the last few years have re-inforced the ‘poor man’s bank’ image.

Mission As a member owned financial cooperative, MCU aims to become a full service provider of ethical and affordable financial services for everyone by:   Putting our members’ needs at the heart of what we do Providing opportunities for improving member’s financial capability – helping our members to manage their money Providing excellent customer service and; The development and nurturing of mutually beneficial relationships with a wide range of partners across the MCU common bond. All initiatives we have been involved in over the last few years have re-inforced the ‘poor man’s bank’ image.

MCU also has two additional social goals:   To contribute towards the alleviation of poverty within the community - MCU benefits the local community by reducing the negative impacts of financial exclusion and high cost credit providers such as doorstep and payday lenders. To contribute towards the economic regeneration of the community - Savings with MCU are used to lend responsibly to people in the local community, and ensures that the interest saved is kept within the local economy. All initiatives we have been involved in over the last few years have re-inforced the ‘poor man’s bank’ image.

MCU Products and Services Savings – regular, Christmas, Junior & Gold Saver Loans - £100 to £15,000, Family loans, rate beater etc; Life Savings insurance – double your savings * Payroll Plus – direct deductions from pay Rent Direct account – helping tenants to pay rent Revolving credit Banking - Engage Pre-paid VISA debit card Corporate membership and community accounts Not using ALD alone – also using our own criteria and disposable income for those that are referred

Making a difference Over the last 10 years MCU has loaned over £42 million in small loans, saving local people over £28 million in interest compared to doorstep and other high interest lenders. Enabled thousands of members to save for the first time ever through ‘Save as you borrow’. After taking a small first loan, members are encouraged to save £1 or £2 a week whilst repaying the loan – 95% do so and really appreciate the opportunity to build some savings. We will do this by – city centre premises/improved website and automation/investment in new technology/

What our members say: ‘Thank you so much for lending me the money to pay my school fees. Thank you for making my dream come true and achieving my goals’ ‘The Beswick staff have been wonderful and really helped me to sort out my finances and get back on track’ ‘I have savings for the first time in my life, which makes me feel very proud. I never thought I would be able to save’

Follow us on Twitter @CUManchester MCU Contact details: christine.moore@manchestercreditunion.co.uk 07912 790115 www.manchestercreditunion.co.uk Follow us on Twitter @CUManchester