Sourcebook

PRA makes modifications to the Reform of the legacy Credit Unions Sourcebook

Original Proposals

  • Limit on shares and deposits for credit union members to the FSCS level of protection

  • Framework for additional activities based on achieving ratios

  • Minimum capital for credit unions with either £10m assets or 10,000 members to be 10%

  • Lending to be subject to a cap of £500,000