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    2013-12-04

CREDS 5.3 Version 1 credit unions

Requirement to maintain capital assets ratio

CREDS 5.3.1

[Note: a transitional provision applies to this rule: see CREDS TP 1.1.]

Capital requirement for certain version 1 credit unions

CREDS 5.3.10R
  1. (1)

    A version 1 credit union must not lend to a member more than £7,500 in excess of the attached shares held by that member, unless it has a capital-to-total assets ratio of at least 5%.

  2. (2)

    A credit union which is owed by a member a total amount greater than £7,500 in excess of the attached shares held by that member must maintain at all times, while such an amount is outstanding, a capital-to-total assets ratio of at least 5%.