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Churches' Mutual Credit Union now has over 1,000 members. This news was announced at CMCU's AGM held at Church House, Westminster on Friday 26 January. CMCU is a national church credit union that encourages saving and responsible lending.

Welcoming the growth in numbers and business, the Vice-President of CMCU (the Revd Nigel Bourne, Vicar of Chalk and Church of England Pensions Board Trustee) who chaired the meeting, said, "The credit union is now beginning to offer its savings and loan products to employees of Voluntary Aided schools and Multi-Academy Trusts."

He also explained how CMCU is a very significant ecumenical venture. "CMCU began as an Anglican, Methodist and Church of Scotland organisation, but both the United Reformed Church and Roman Catholic Church denominations have since joined." At the meeting the members voted to extend the common bond to employees and trustees of Methodist Church charities. They also agreed the dividend payable to all savers with CMCU.

Mr Alan Yates, Moderator of the United Reformed Church was warmly welcomed to the AGM and invited to address the meeting. The Moderator explored some issues relating to vast disparities in wealth and saw CMCU as a significant step in increasing fairness of access to financial resources. He challenged the wider church to deepen its involvement in such areas with the following question: 'Are we, as those responsible for church governance, hiding our church wealth behind the need for good corporate governance, risk management processes and prudence? Does this prevent us from taking risks with our money in the way Christ would?'

Hilary Sams, CEO of CMCU since its formation in 2014 and a Reader in the Birmingham Diocese, said of CMCU's potential, “Our third AGM is a significant milestone as CMCU demonstrates it is in an excellent position to be a force for good in the financial market, and able to be both an ethical and competitive provider of savings and loans.”

(Photo: (left to right) Nigel Bourne, Alan Yates, Sheila Nicoll OBE, Secretary of CMCU and an Elder in the Church of Scotland).
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26th January 2018 - The CMCU Team are attending the Annual General Meeting today. We will be dealling with email enquiries but there may be a delay in replying to requests. Thank you for your patience. ... See MoreSee Less

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Contact Details

Call us on: 01452500463 (9.30am -1.30pm) Write to us at the registered address below or email us via the contact form: Registered address: 3 Beaufort Buildings, Gloucester, GL1 1XB We aim to respond to email enquiries and online applications the same day if received before 2.00pm or the next working day if received out of hours. If you have not received a reply please check your ‘spam’, ‘junk’ or ‘quarantine’ folders as we have a high incidence of emails from our Admin address that are delivered this way. Thank you.

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Churches Mutual Credit Union Ltd. is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Reference number 654709. Member of Association of British Credit Unions Limited. © CMCU 2015.

CMCU is currently a credit union for: The Church of England, the Church of Scotland, the Church in Wales, the Methodist Church of Great Britain, the Scottish Episcopal Church, the United Reformed Church. and the Catholic Church in England & Wales and in Scotland.

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