Manx Credit Union reaches 'considerable milestone'

Agreement reached with FSA

Attempts to set up a banking alternative in the Isle of Man have reached what's being described as a 'considerable miletone'.

It's been confirmed agreement has been reached with the Financial Services Authority, meaning the working party aiming to set up the Manx Credit Union can proceed with its plans.

David Talbot of the working party says the work begins in earnest now: