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MCU members at Strand today

There's a chance to find out more about the idea of Credit Unions today (Sat)

Members of the Manx Credit Union Working Party will be at stand at the Strand Shopping Centre from 10 am to 4pm to answer questions about credit unions and how they work.

They will also be asking people to complete an “expression of interest” form to show there is demand for such a service.

Current legislation on the Island prevents the establisment of credit unions, which are non-profit member-owned community organisations, offerering savings accounts and small loans from pooled deposits at good interest rates.

The MCU is hoping to persuade government there is sufficient interest on-Island to make the required changes to allow one to be set up. 

 

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