News and Blog

Managing Credit Union Risk

One of the key focuses for the regulator is Credit Union risk and how Credit Unions manage risks.  Every Credit Union takes steps to manage risks every day from assessing a loan application for the risk of default before issuing

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PRA 2017 Letter to Credit Unions

The PRA have written to Category 4 and 5 Credit Unions with the findings of their assessment of the sector. There were three different letters for Category 5 Credit Unions depending on the Credit Union’s peer group (less than £15m

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Accountability Regime Update

The new accountability regime is an area where there has been a constant raft of changes. From Monday 3 July firms conduct rules will apply to Notified Non-Executive Directors.  In addition, firms will be required to notify the PRA if there

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Types of Risk

Risk management is an area that leads to a lot of jargon.  One of which is the different types of risk that you can have.  Below we set look at 6 common Credit Union risks: Credit Risk– The risk at

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New Money Laundering Regulations 2017

On 26 June 2017, The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into effect.  The legislation can be found by clicking here. There are a number of significant changes within the legislation

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FRS 102: Update

In Autumn 2016, we posted that the Financial Reporting Council (FRC) were consulting on changes to FRS 102. The more straightforward changes were planned to be introduced in 2019. The more significant changes, including proposals to incorporate the ‘expected loss’ model into

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GDPR- New Data Protection Rules

The General Data Protection Regulations (GDPR) comes into force on 25 May 2018. GDPR will replace the existing Data Protection Act once it is introduced. The Government has also confirmed that Brexit will not effect its introduction into the UK.

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Risk Software Update CURE+ v4.8.1

The latest version of our Credit Union Risk Evaluation software (CURE+) has now been released. Version 4.8.1 contains a number of new functions while still maintaining an easy to use and navigate layout. Improvements to the software include: The software can

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Update to our Mobile Phone App

You may notice that the Credit Union Update app is no longer in the app stores. That is because we have now incorporated our Credit Union mobile phone app within our Alexander Sloan mobile phone app. This provides access to

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