CRED 17.6 Record Keeping and Reporting
A credit union must make and retain records of complaints (except those referred to in CRED 17.4.1 R) for a minimum period of three years from the date of its receipt of a complaint.
The records required are for the purposes of monitoring by the FSA and also to ensure that the credit union is able to cooperate, as necessary, with the Financial Ombudsman Service. These should include:
- (1)
the name of the complainant;
- (2)
the substance of the complaint; and
- (3)
any correspondence between the credit union and the complainant, including details of any redress offered by the credit union; and4
4 - (4)
documentation relating to the referral of a complaint under CRED 17.4.4 R.4
A credit union must provide the FSA, once a year, with a report in the format set out in CRED 17 Annex 1 R (Credit Union complaints return) which contains (for the relevant reporting period) information about:2
- (1)
the total number of complaints received by the credit union (except those referred to in CRED 17.4.1 R) broken down according to the categories and in respect of each of the generic product types described in CRED 17 Annex 1 R(Credit union complaints return) which are relevant to the credit union;2
- (2)
the number of complaints closed by the credit union:2
- (a)
2within eight weeks of receipt; and
- (b)
more than eight weeks after receipt;
- (a)
- (3)
the total number of complaints outstanding at the end of the reporting period; and2
- (4)
the single contact within the credit union for complainants.2
Where a complaint could fall into more than one category, the complaint should be recorded in the category which the credit union considers to form the main part of the complaint.
- (1)
Financial penalties may be imposed for the late submission of the complaints report required by CRED 17.6.3 R.2
- (2)
Details of the FSA's policy and procedures on financial penalties are given in CRED 15.5 (Financial penalties for late submission of reports) and CRED 15 Annex 3 G. 21
For the purposes of making reports under CRED 17.6.3 R, a closed complaint is a complaint:
- (1)
where the credit union has sent a final response;
- (2)
where the complainant has positively indicated acceptance of the credit union's earlier response; or
- (3)
where the complainant has failed to revert to the credit union within eight weeks of the credit union's most recent letter.
A report under this section must be given or addressed, and delivered, in the way set out in SUP 16.3.6 R - SUP 16.3.16 G (General provisions on reporting) (see CRED 14.10.4 G - CRED 14.10.4F G) , except that:2
- (1)
instead of the credit union's usual supervisory contact, the report should be given to or addressed for the attention of the Notification, Reporting and Data Maintenance department of the FSA; and
2 - (2)
in addition to the methods of submission of reports in SUP 16.3.9 R, a credit union may submit a report under this section through, and in the electronic format specified in, the FSA's Complaints Reporting System.2
2A credit union that has started but intends to stop submitting reports in electronic format under CRED 17.6.8 R (2) must first notify the Notification, Reporting and Data Maintenance department of the FSA in writing of this intention.
2If a credit union is unable to submit a report in electronic format because of a systems failure of any kind, the credit union must:
- (1)
submit its report under this section through one of the alternative methods of submission of reports in SUP 16.3.9 R (see CRED 14.10.4 G); and
- (2)
notify the FSA, in writing and without delay, of that systems failure.
For the purpose of inclusion in the public record maintained by the FSA, a credit union must provide the FSA, at the time of its authorisation, with details of a single contact within the credit union for complainants, and in its quarterly return must notify the FSA of any subsequent change.
The contact point in CRED 17.6.3 R and CRED 17.6.9 R2 can be by name or job title and may include, for example, a telephone number.