PRA publishes credit unions’ Annual Assessment letter

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PRA has published the 2015 Annual Assessment letters to directors of Category Five Credit Unions, which are not assessed individually but rather as part of their peer group. PRA has sent different letters for each of the following groups:

  • those with more than £5 million in members’ shares;
  • those with less than £5 million in members’ shares; and
  • those whose assets have grown by more than 30% and/or whose members have grown by more than 50% in the last financial year.

(Source: PRA 2015 Annual Assessment – Category Five Credit Unions)

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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