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Status: You are viewing the version of the handbook as on 2009-03-31.

CRED 10.1 Application and purpose

CRED 10.1.1R

This chapter applies to all credit unions in relation to their lending to members under section 11 of the Credit Unions Act 1979.1

CRED 10.1.2G
  1. (1)

    This chapter seeks to protect the interests of credit unions' members in respect of loans to members. Principle 4 requires credit unions to maintain adequate financial resources and Chapter 8 sets out the FSA's detailed capital adequacy requirements in respect of credit unions.

  2. (2)

    This chapter is not relevant to loans between credit unions, except as indicated in CRED 7.2.6 G(4). 1