Manchester Credit Union becomes the first in the sector to become a Plain Numbers Partner

Plain Numbers is delighted to welcome Manchester Credit Union among its ever-growing portfolio of Partners. MCU is the first credit union to work with us and is pioneering in the sector, leading the way on supporting customers who struggle with numbers.

Open to anyone who lives or works within certain areas of Greater Manchester, MCU  is owned and controlled by its members. Any surplus generated is returned to members in the form of dividends or used to improve its services. This commitment to its customers is clear in our Partnership, in which they will be training Plain Numbers Practitioners and certifying documents across a Partnership that will last an initial three years.

 We recognise the importance of credit unions and so we are proud to welcome the first to the Plain Numbers Community.

”The Money And Pensions Service recently found that only five per cent of 25 to 34-year-olds were likely to consider a credit union if they needed credit, with ten per cent thinking first of payday lenders. Other choices were short-term, high-cost credit (nine per cent) and unauthorised overdrafts (six per cent).” - Iona Bain, Metro, 16 Jan 2023  

Younger adults and those who are self-employed or in the gig economy historically find it more difficult to get good credit deals and so are often excluded from the best options available on the market. MCU, as a credit union, is making waves by providing credit to these groups and has committed to doing so in a way that works for customers who struggle with numbers.

Mike Ellicock, co-founder and CEO of Plain Numbers, says of the Partnership, “We are delighted to be working with our first credit union and particularly with MCU as a shining example of what makes the sector great. Poor numeracy as a vulnerability is a key part of the new Customer Duty being implemented by the FCA, and MCU are doing all they can to champion customer understanding. We are privileged to be with them on their journey.”

Manchester Credit Union is also a member of the Building Societies Association, who are a Plain Numbers Advisory Partner.