Credit Unions (Amendment) Bill - Clause 4 - Referral of members to other credit unions - Northern Ireland Assembly

Clause 4 - Referral of members to other credit unions

Clause 4 allows a credit union to refer one of its members to another credit union for the provision of a service, where its rules provide for this.

It also allows for the receiving credit union to provide the referred service and for that person to be treated a member of that credit union whilst the service is being provided.

The credit union making the referral may charge the person a reasonable fee in respect of administration costs incurred.

14. Do you agree that credit unions should be allowed to refer a member to a different credit union if they are unable to provide a particular service?

Yes No

15. Do you agree that the person should be treated as their member whilst the credit union they were referred to provides the service in question and only for as long as that service is being provided?

Yes No

16. Do you support the idea of credit unions pooling resources in this way in order to offer a wider range of products and services?

Yes No

17. Is it reasonable to charge a fee to cover administrative costs associated with a referral?

Yes No

18. What safeguards if any should be implemented in order to protect each credit unions independence, and manage related operational and reputational risks effectively?

19. Do you have any other comments on Clause 4 or suggested amendments for this clause?