Looking to use, or acting as, a Credit Union?
We have extensive experience across all aspects of Credit Unions and their associated administration services
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Our specialist legal team are on hand to assist with all forms of regulated activity including credit unions

We provide specialist legal and regulatory services to Credit Unions, and those wanting to benefit from their services, in the Isle of Man.

An entity incorporated as a credit union under The Credit Unions Act 1993 to operate a credit union in the Isle of Man is required to hold a Class 9 licence under The Regulated Activities Order 2011 (amended to 2019).

The Act no longer contains a formal definition of ‘credit union’ but this is commonly understood to mean a non-profit-making money cooperative whose members can borrow from pooled deposits at low interest rates.

Class 9 | Regulated Activity

Holders of licences to conduct Class 9 regulated activity are not currently subject to the Financial Services Rule Book but are instead subject to standard licence conditions. A licence-holder must comply with any licence conditions that have been imposed by the Authority and which are shown on the licence.

A holder of a Class 9 licence is not expected to hold a licence under any other Class.

Talk to us today
If you need to talk to someone around Credit Unions, then take the first step. You can email enquiries@mannbenham.com or call us on 01624 639350 to arrange your free consultation with us today.

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Reasons to use MannBenham

Personal Service

Always professional, providing an exceptional level of service to our clients

Always professional, providing an exceptional level of service to our clients

Everything we do is backed by leading legal professionals and an extensive range of advisory and support services designed to meet our client requirements and exceed expectations

Always Professional

We believe being professional is about us giving our best at all times

We believe being professional is about us giving our best at all times

We remain professional at all times, treating everyone respectfully and with courtesy, listening and understanding our clients needs

Global Solutions

MannBenham Advocates, Advisory and Fiduciary solutions are truly global

MannBenham Advocates, Advisory and Fiduciary solutions are truly global

MannBenham’s global reach combines Isle of Man excellence with cross-jurisdictional expertise creating a complete integrated approach

Wealth of Experience

We pride ourselves on the wealth of our experience and knowledge

We pride ourselves on the wealth of our experience and knowledge

Our experience and expertise crosses both commercial and personal, delivering real solutions that satisfy our clients expectations

Contact us today to discuss your requirements

MannBenham | 49 Victoria Street, Douglas, Isle of Man, IM1 2LD | Email: enquiries@mannbenham.com | Telephone: +44 (0)1624 639350