About
Built for credit unions, by credit unions, owned by credit unions.
MyCUmortgage Ltd is incorporated in England & Wales (Co. No. 17047298) and registered in Sheffield. The CUSO is built by a founder who has spent three decades inside the UK credit-union and regulated-lending sectors, and is structured so that the founding cohort and their successors collectively hold 51% of the company over time.
Founder & CEO
Paul Hancock
30+ years · Banking & Financial Services
Founder and CEO of MyCUmortgage Ltd. Former Chief Executive of Sheffield Credit Union, where Paul led the modernisation of the credit union’s product offering and built partnerships with local employers across the Sheffield City Region to scale member access to fair, affordable credit.
Three decades of practitioner experience across UK retail credit, with leadership roles spanning Sheffield Credit Union, Friends Capital, and adjacent regulated lenders. Paul is widely engaged across the UK credit-union sector and brings a board-level operating perspective to every founding-partner conversation.
MyCUmortgage is the CUSO Paul has built to bring second-charge mortgage capability into the credit-union movement — institutionally regulated, member-first by design, and owned over time by the credit unions that lend through it.
The CUSO model
A Credit Union Service Organisation provides infrastructure that individual credit unions can’t economically build alone. MyCUmortgage Ltd is that infrastructure for second-charge mortgage advice and packaging. The credit union remains the lender of record. The loan sits on the credit union’s balance sheet. The member relationship stays with the credit union.
Regulatory standing
The CUSO entity becomes operational in Q4 2026. The regulated mortgage advice service is subject to FCA authorisation under Articles 53A (advising on regulated mortgage contracts), 25A (arranging) and 53DA / 36A (credit broking). Authorisation is anticipated in H1 2027 and is not guaranteed. Until authorisation is granted, no regulated activity is conducted.
Funding alignment
MyCUmortgage Ltd has applied to the Fair4All Finance Transformation Fund for a Phase 1 award. ABCUL’s Go for Growth plan is explicitly aligned with the CUSO model. PRA PS5/26 (February 2026) permits credit unions to formally invest in CUSOs for the first time, up to 7.5% of capital.