Founded 2014 | Website cmcu.org.uk | |
Type Industrial and Provident Society Location 3 Beaufort Buildings, Gloucester GL1 1XB | ||
Churches' Mutual Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Gloucester and operating throughout the United Kingdom. Arising from a consultation among Church of England clergy on pensions and retirement housing, the credit union was formed in collaboration by the Church of England, the Church of Scotland, the Methodist Church of Great Britain, the Church in Wales and the Scottish Episcopal Church in 2014.
Membership of Churches' Mutual Credit Union is currently restricted by common bond to individuals holding a recognised position within the Anglican churches of Great Britain, the (Presbyterian) Church of Scotland and the Methodist Church in either a paid or voluntary capacity.
A member of the Association of British Credit Unions Limited, registered under the Industrial and Provident Societies Acts, Churches' Mutual Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and PRA. Ultimately, like the banks and building societies, members' savings are protected against business failure by the Financial Services Compensation Scheme.