The money stays on the Island.
We're a closed loop. Members save, members borrow, and any surplus circulates back to members. No outside shareholders, no dividends flying off to Geneva or Frankfurt. The pound you save in Peel gets lent in Castletown.
Every pound goes round, not away.
Members save
Your savings sit in a share account in your name, here on the Island.
Members borrow
Those savings are lent to other members at fair rates — decisions made in Douglas.
Surplus comes back
After costs and reserves, any surplus may come back to members as a dividend. Nothing leaves the Island.
Lending that meets people where they are.
Our Family Loan and Saving Scheme makes small loans to neighbours on State Benefits or the Isle of Man State Pension, repaid through deduction at source — with a small saving growing alongside every loan.
Why does that matter? The people most likely to be turned away by a high-street bank are often the same people most likely to be charged punishing rates by a payday lender. The scheme gives the same household a licensed, low-cost alternative instead.
We've had welcome support from the Island along the way, including a Manx Lottery Trust grant that helped fund our member app.
Read about the Family LoanBuilt one Saturday morning at a time.
Manx Credit Union is registered under the Isle of Man Credit Unions Act 1993 — the Island's first and only credit union, run by volunteers for its members. A more detailed history is included in our annual report.
Read about MCU