Methodist Church to join major national credit union
30 January 2014
• Methodist Council papers here
The Methodist Council, meeting in London this week, has agreed
to become a partner to the Churches Mutual Credit Union (CMCU).
The CMCU is an alliance between the Anglican churches in
Britain, the Church of Scotland and the Methodist Church in
Britain. As well as offering the benefits of credit union
membership to ministers, trustees and those employed by the Church,
the CMCU will continue to show the Churches walking the walk as
well as talking the talk of ethical investment.
Methodist Connexional Secretary Doug Swanney said: "The work that
credit unions do is essential in helping people to access low-cost,
ethical loans and savings accounts. Getting on board with this
movement fits perfectly with the values of the Methodist Church and
we are excited about the opportunity to enthuse people about the
work of credit unions and to make their benefits available as
widely as possible."
The Churches are keen that this national body doesn't discourage
people from joining and supporting local credit unions.
The Revd Dr Malcolm Brown, the Church of England's director of
Mission and Public Affairs said, "It is great news that the
Methodist Church has agreed to support the Churches' Mutual Credit
Union. They join the partnership with the Church of England and the
Church of Scotland which has brought the CMCU close to viability
and, thanks to this new ecumenical dimension, the CMCU looks set
fair to launch this summer. The CMCU is a strategic initiative
which will not only serve the staff of our respective churches but
conveys the important fact that credit unions are for everybody and
not just about helping the worst off. Together with our partner
churches, the Church of England is working to support local credit
unions across the country and to strengthen the role of credit
unions within a more diverse and competitive financial sector. The
Methodist Church's support for the CMCU shows that this important
work has caught people's imagination and that credit unions' day
The CMCU will initially be open to Methodist ministers, but the
Council has pledged to ensure that over time membership is extended
as widely as possible across the Methodist Church.
Other matters discussed by Council members included ways to
extended and enhance joint work between the Methodist Church and
the Church of England and financial matters.