BSA Contacts: Ruth Doubleday and Elaine Morton
 

The National Credit Union Forum (NCUF) is the Credit Union Committee of the BSA

NCUF members have access to all the same resources as building societies via the members-only area of the BSA website (see below). In addition we have created specific resources where the requirements are unique to credit unions. 

PRA Credit Union Regime - this sets out the PRA's expectations in SS2/23 around capital, liquidity, risk management, governance and exit planning.

 

NCUF and BSA advocacy

NCUF and the BSA work in partnership to advocate with stakeholders for changes to support credit unions and their members. We have developed key messages and a supporting slide deck which will evolve and be updated. It is saved here.

Key messages:

Credit Unions provide support for their members, ensuring those on lower incomes are financially included

NCUF are professional and collaborative credit unions providing innovative products and services

Credit Unions provide diversity and resilience to the UK financial system

 

NCUF Terms of Reference

NCUF Terms of Reference can be found here.

 

BSA website

All BSA publications, consumer leaflets and industry responses are available in electronic form via the Information tab above. There is a BSA factsheet on credit unions.

All BSA events, including member-only training workshops, are visible in the members' area via the Events tab above. We are developing specific tailored training for credit unions on governance- for new Board members, risk appetite and treasury risk management.

Use the search function, with its categories, to find the policy brief you need. Material on savings and banking, mortgages and housing, financial crime , people (HR) , technology / innovation,  and conduct matters is mostly relevant to credit unions. Briefs should be tagged by the categories to ensure you get the updates you need.

External resources

Prudential Regulation Authority

PRA has a useful credit unions webpage linking through to a wide range of relevant documents - rules, supervisory statements, legislation, forms, and supervisory communications. Some direct links to the most important items are given below :

Credit Unions part of the PRA Rulebook

SS2/23 Supervising credit unions

2023 PRA letter to credit unions

Regulatory reporting inc BEEDS (and download CQ and CY)

Credit union statistics

 

Financial Conduct Authority

FCA also has a useful  credit unions webpage covering registration matters and relevant FCA policy, and a link to a further page on credit unions and consumer credit . There is also material on SMCR for CUs, and a governance webinar.

The FCA also has a page relating to FSMA 2023 updates to the Credit Unions Act and how credit unions should go about making any changes and informing the FCA.

 

HM Treasury

Credit Unions Act 1979  this was updated by aspects of FSMA 2023 to add new objects

 

 

 

 

 

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