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The LRO and new model rule books |
| Posted by Administrator (admin) on Jan 27 2012 |
Th seminars were very well attended by credit unions across the country. It was pleasing to see groups of 10 or more from credit unions, so they could really get down to working out the entries that they were going to make in their rule books and how they they were going to recruit new individual and corporate members and figure out the correct wording to enter in the rule books.
ACE and UKCU have worked together for 18 months to draft the new rule books and the final draft is with the FSA for approval. Once we get that approval we will send out 3 free rule books to all ACE credit unions. All the information credit unions need are in Dropbox and we are on hand to help people with any queries.
Credit unions need to be aware that, as CREDS also came into force on 8 January, two new rules apply NOW! These are attachment of shares amd building up capital to 3% (over three years).
Last changed: Jan 27 2012 at 4:02 PM
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