Not sure what a credit union is? Why does the Isle of Man need one? The answers to these questions and many more can be discovered at an open day being held by the Manx Credit Union Working Party next Monday 18th May.

Manx Credit Union Working Party Chairman David Talbot will be hosting three sessions on the day at 1pm, 3pm and 6pm. Each will last around 40 minutes and there will be an opportunity to ask questions as well as find out what progress the team are making on setting up a credit union in the Isle of Man.

The sessions will be held at Nadine House, 13 North Quay, Douglas (look for the Manx flag). Please ring 490640 if you need directions or wish to confirm attendance although you are welcome to drop in if you are passing.

Another open day will be held on Thursday 18th June for anyone who can’t make the one in May.
A recent public consultation on credit unions in the Isle of Man is now being considered by the Financial Supervision Commission. Mr Talbot said interest in a Manx Credit Union is building all the time: “We have 600 people who have signed an expression of interest in being a member of a Manx Credit Union and over 100 people who have offered to volunteer with the project in some form, which is greatly appreciated.

“We are looking forward to the formal response from the Financial Supervision Commission following the consultation and we hope this will spur on Government to bring forward new legislation enabling the formation of a credit union as soon as possible.”