We will continue to develop the relationship with the All Party Committee on Credit Unions at Westminster to ensure they have a clear understanding of how the sector works in Northern Ireland. We will continue to work closely with the Irish League of Credit Unions to ensure that the government at Westminster receive correct briefing with regard to the Northern Ireland marketplace.
The ongoing absence of a government at Stormont continues to frustrate the Ulster Federation of Credit Unions.
There is much to be done in Northern Ireland, our affiliated credit unions want to continue to grow and support their local economies but we need a functioning government to realise our full potential
We will continue to encourage our affiliated credit unions to comply with all requirements of our regulators in an accurate and timely manner.
Our recent Governance Training will help contribute to this process and we continue to be grateful for the help and guidance we receive from both the Financial Conduct Authority and the Prudential Regulation Authority.
Our Affiliated Credit Unions
We will continue to assist our affiliated credit unions in any way possible. We will continue to monitor individual credit union performance and identify, at an early stage, any additional assistance that might be needed to ensure the long-term viability of their business.
Our office staff are readily available and willing to help our members and we would encourage all our affiliated credit unions to take advantage of the assistance and support provided by the Ulster Federation of Credit Unions.
The Credit Union Sector in Northern Ireland
As detailed above we will continue to work closely with our colleagues in the Irish League of Credit Unions on matters of mutual interest.
We will continue to extend the hand of friendship to the Tyrone Federation of Credit Unions and endeavour to respond positively to any requests for assistance they may have. We will also reach out on a selected basis to independent credit unions within Northern Ireland whom we feel might be interested in joining the Ulster Federation of Credit Unions.
Other Trade Bodies within the United Kingdom
We will continue to work closely with other trade bodies with the United Kingdom