Manchester Credit Union

Do you want to save for a holiday or a special occasion? Are you looking to borrow for a new car? If so, you might be interested in joining Manchester Credit Union (MCU).

Credit Unions are local, financial co-operatives, owned and controlled by their members. By saving and borrowing with MCU, you are helping to keep more money in your pocket and in the local economy, which benefits the whole community.

Once you open a savings account, you become a member and part owner of the credit union. Your money is being managed locally and fairly, by people who understand your needs.

Credit Unions can help you take control of your money by helping you to save when you can and providing an affordable way to borrow when you need to.


Who can join

Anyone living or working in Manchester, Bury, Rochdale, Tameside, Trafford and the High Peak can join MCU, as can tenants and employees of a number of local Housing Associations. Check their website to see if you are eligible.

A growing number of employers also now offer the chance to save and borrow through direct deductions from your pay, making saving and borrowing even easier.

Please check the website to see if your employer is one of MCU's Payroll Plus partners.

You can pay into your account by:

  • Payroll deduction
  • Standing order
  • Having your wages or benefits paid directly
  • At any Post Office, Paypoint or payzone outlet

Is my money safe?

Credit Unions are authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). They are also covered by the Financial Services Compensation Scheme (FSCS) which provides compensation of up to £75,000 per member if the credit union should fail, just in the same way as a bank or building society.

Savings and loans are also covered by our Life savings insurance and Loan Protection at no cost to you.


How much can I borrow?

The amount you can borrow depends upon your ability to repay, your disposable income and your recent credit history.

The maximum interest rate can be just 42.6% APR compared to over 5500% with payday loan companies.

MCU believes in giving its members the best deal possible and will consider loan applications for any worthwhile purpose.


I’m from Bury – how do I sign up?

Membership is increasing dramatically and we would encourage people to come down and start saving. Credit unions are covered by the Financial Services Compensation Scheme (FSCS), so your money is just as safe as it is in a bank or a building society.

Sign up days and members services are currently available between 9.30am and 12pm on Mondays at Six Town Housing head office, Wednesdays 9.30am to 1pm in the Millgate Centre and Thursday 9.30am to 12.30pm in the Millgate Centre.

To open an account you should take proof of your identity (passport, picture driving licence or some other type of picture I.D. which has your name and signature on it) and two different proofs of your address, for example recent utility bills (gas, electric, water etc.), bank statements, letters from the Council or Department of Work and Pensions. These should be no more than two months old. You will be asked to complete a form and sign it in front of one of our staff members who will witness your signature and keep it on file.

Alternatively sign up via the Manchester Credit Union website.


The Mayor of the Bury Metropolitan Borough Councillor, Sharon Briggs, together with Leader of the Councillor Mike Connolly formally welcomed Manchester Credit Union to Bury in 2013 as well as becoming the town’s first members.

Local MP for Bury South Ivan Lewis was also on hand at the launch to lend his support to the credit union calling it, "long overdue and a real alternative to doorstep lenders and payday loan companies."