Regulations – Inside and Out – Angus Credit Union

After the Farepak fiasco and now the global financial meltdown there has never been a better time to join your local credit union. It’s good to know that Angus Credit Union keeps your money safe and secure. We are regulated by the Financial Services Authority for all circumstances, so you can feel peace of mind that your money is secure with Angus Credit Union.

• The Financial Services Authority registers and regulates every financial institution in the UK, including credit unions. Our staff and directors have to abide by detailed rules about how to do business and keep records, and we have to send regular reports of our activity to the Financial Services Authority.

• We have a Supervisory Committee that is entirely separate from the staff and board of directors. Their job is to make periodic checks of the transactions and accounting procedures, as well as the day-to-day running of the credit union, and to report on their findings.

• We have a Money Laundering Officer whose job it is to ensure that the credit union isn’t being used to cover up illegal financial activity.