The Island's credit union, run by its members.
Manx Credit Union is the Island's only credit union — a member-owned co-operative offering fair loans and honest savings to people who live on the Isle of Man. No outside shareholders: it's owned by, and run for, the members it serves.
How a credit union works
A credit union is a financial co-operative. You don't open an account with us. You become a member, and £5 of your opening payment buys you a share in the union itself.
Members save together, and those savings are then lent at fair rates to other members. The union covers its costs, keeps a regulatory reserve, and pays the rest back as a dividend on everyone's shares.
There are no outside investors. No quarterly earnings calls. No pressure to grow at any cost. Every member has one vote at the AGM, regardless of how much they have saved.
Regulator & accountability
- RegulatorLicensed by the Isle of Man Financial Services Authority
- RegistrationNo. 000001U under the Credit Unions Act 1993
- AuditIndependent annual audit; report tabled at AGM
- ProtectionSavings protected up to the £15,000 maximum balance by an arrangement approved by the FSA
- ReportingAnnual accounts published and tabled at the AGM
Volunteers, elected by members.
The Board is unpaid. Every director is also a member. Elections happen at the AGM each year.
We're a real office on Peel Road, Douglas.
Not a call centre. Not a website pretending to be a bank. An actual building, with actual people in it, every Tuesday and Saturday morning.
- Tuesday
- 9:45am–2:15pm
- Saturday
- 9:45am–2:15pm