Lending

Attachment of Shares

What do we mean by attached shares? Attached shares are shares which cannot be withdrawn because the credit union member...

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Interest Rate Calculations

What the law says The amount of interest credit unions can charge is capped in the Credit Unions Act (and...

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Consumer Credit Compliance for Borrower-Lender-Supplier Agreements

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Consumer Credit Under FCA – A Guide for Credit Unions

Introduction Since 2014, the Financial Conduct Authority (FCA) has had responsibility for authorisation and regulation of businesses engaged in consumer...

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Credit Brokerage Guidance – Cessation of Referrals

Background As you will know, ABCUL have been campaigning for some time against the activities of credit brokerage companies –...

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Getting the Lending Policy Right

Every credit union’s Policy Manual should include a Loan Policy and a Credit Control Policy. Within the limits established by...

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Lending Risk

Risk – noun – exposure to the chance of injury or loss; a hazard or dangerous chance Principles of Lending...

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Lending to Corporate Members

Why do you need to know? Since 2012 credit unions have been able to decide if they will allow corporate...

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Loans to Officers & Employees of the Credit Union

A Director, committee member or other officer or employee of the credit union, as a member of the credit union,...

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Payment Protection Insurance and Claims Management Regulation

NB: this guidance does not affect your obligation to respond as fully as possible – within the information provided –...

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HM Treasury Guidance – Interest Rate Cap Increase to 3%

Changes to the maximum interest rate credit unions can charge for loans. Legislative changes will increase the maximum level of...

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The Law Surrounding Lending

The Credit Unions Act sets out fours objects for credit unions, including: “the creation of sources of credit for the benefit...

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