Creating a credit union should be a high priority

Thu, 12 Jun 2014

Creating a credit union on the Isle of Man needs to be a higher priority for government.

That’s the view of the Manx Credit Union working party which says savers and borrowers need a local and ethical alternative to the existing financial outlets.

A lack of updated legislation is currently hampering plans – this week Treasury Minister Eddie Teare admitted that whilst it is being looked at it is a low priority.

Chairman David Talbot says changes could be made quickly if the will is there and is urging the public to get behind the idea: