Legislative Change for Credit Unions
Legislative Change for Credit Unions
The main law governing credit unions is the Credit Unions Act 1979.
A Legislative Reform Order (LRO) has recently been made by Parliament and changes to the Credit Unions Act came into force on 8th January 2012.
The changes remove restrictions in the current law and allow credit unions to choose to: -
Reach out to new groups, by serving more than one group of people
These changes will allow credit unions to serve many more people and use the increased flexibility to provide the services that people need
A full briefing on the changes can be downloaded on the right hand side of this page.
More information on the opportunities this provides for partnership working with housing providers, employers and other community organisations can be found here: http://www.abcul.coop/credit-unions/newopportunities
The Northern Money Conference 2012 has grown to become the largest conference in Britain to address issues concerning the financial health and wellbeing of low and moderate-income households.
ABCUL – the Association of British Credit Unions – has welcomed steps taken in Parliament this week which will see increased access to safe and ethical financial services in communities and workplaces across the country.
Mark Lyonette, Chief Executive of ABCUL - the Association of British Credit Unions, has welcomed today's announcement that the Government is investing up to £73 million in credit unions over the next four years, and that the Post Office could play a central role in delivering credit union services.
Around 80% of people in England, Scotland and Wales can join a credit union because of where they live, work or the organisations they're members of, and this is growing all the time. Now there's one place where they can find out about the credit unions they can use.
ABCUL - the Association of British Credit Unions - has welcomed today's policy statement from The Department for Business, Innovation and Skills (BIS) on its plans to secure the long term future of the Post Office.
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