Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Archbishop Of Canterbury Forms CU For Clergy
LONDON (7/9/13)--The Archbishop of Canterbury has formed a credit union--the Clergy Mutual CU--and became the credit union's first member Sunday, according to his website.
 
The credit union will serve clergy and church staff in England and Scotland, using the Church of England's and Church of Scotland's  reach to expand access to credit unions, reported the London Telegraph (June 30).
 
The move aims to boost competition and create a more diverse financial sector, said Malcolm Brown, the Church of England's director of mission and public affairs, in the Telegraph article. 
 
Archbishop Justin's website noted the new credit union is "part of efforts to boost credit unions in all communities" in England and Scotland. He has praised credit unions and their role in deprived areas.
 
Plans call for encouraging church members with relevant skills to volunteer at the financial cooperatives. Small, local lenders also could be invited to use church buildings and other community locations with the help of church members, he said.
 
Credit unions are already being touted by the Duchess of Cornwall. Camilla joined a credit union--London Mutual CU in Peckham, England, in May, and had visited a number of credit unions in the previous 12 months in a show of support for credit unions that provide alternatives to payday lenders (News Now May 17).


RSS print
News Now LiveWire
New Calif law OKs e-filng of weekly deposit reports, eases #creditunion stressor See #NewsNow http://t.co/slhaUDNdYH
44 seconds ago
CU-supported Ruben Gallego won Dem primary for congressional seat in Ariz's 7th District v. better-know opponent. http://t.co/WXDugmNsOj
1 hours ago
.@TheCCUL names 6 finalists for @CUaware Protege competition. See #NewsNow Wed
16 hours ago
Starting w/FHA-insured mortgages closed on/after 1/21/2015, interest payments will stop on date prepayment is made in full. See #NewsNow Wed
17 hours ago
.@FreedomCUinPA has awarded 4 teachers $500 each for being voted 95.7 BEN-FM's Teacher(s) of the Month.
18 hours ago