At its recent AGM, Alan Yates, a former General Assembly Moderator of the United Reformed Church, was elected as the new President of the Churches Mutual Credit Union (CMCU), having been elected to the Board of Directors in January 2020.
CMCU was established as a credit union in 2014 and offers mutually supportive finance, as part of an ecumenical partnership, to ministers, elders, church lay leaders and church workers.
Its savers benefit from ethical investments and a dividend, depending on the prevailing bank interest rate, generated by loans.
Its borrowers benefit from lending and credit with no hidden rates and no hidden charges, representing a major difference with borrowing from other financial organisations, such as high street banks and supermarkets.
Alan said: “It is a great privilege to be elected to lead such a unique organisation as CMCU, connecting as it does, members with faith in a loving God and living out Christian values in mutually supportive finance. I pay tribute to my predecessor, the Venerable Antony MacRow-Wood of the Anglican Diocese of Dorset, for successfully leading this enterprise from its inception to a viable credit union today.”
If you would like to know more about the Churches Mutual Credit Union please email Alan or visit the CMCU website at www.churchesmutual.co.uk