CUCC is a central compliance point of contact for credit unions. There are increasingly onerous requirements on credit union boards to demonstrate compliance, satisfy regulatory obligations and keep up-to-date with continual regulatory changes.
Having the right tools on hand can help reduce the burden many boards and consequently compliance officers are facing.
The CUCC supports and provides credit unions with the tools necessary to meet their compliance obligations under the Credit Union Act, 1997 (as amended), PRA/FCA requirements and all other financial services legislation and supports credit union compliance officers in managing regulatory change and reducing the risk of non-compliance
The CUCC is an on-going subscription service which provides numerous supports to those officers responsible for compliance within the credit union.
These supports are provided by a team that not only has a strong legal and compliance background, but also extensive experience of working with credit union officers and voluntary assistants.
This unique blend of compliance knowledge and credit union know-how makes the new service a must have for credit union compliance officers and ensures the guidance and support provided to subscribing credit unions is professional, tailored and practical.
The Credit Union Compliance Centre is an annual subscription service for credit unions in Northern Ireland and the Republic of Ireland.
This service will support the compliance function, however it will not supplant compliance roles within the credit union. The annual subscription fee is €2,400 / £1,800 (plus VAT at 23%) which provides access to all CUCC services.
Benefits to subscribing credit unions include:
- Access to all resources on www.cucc.ie
- Free attendance at the quarterly Compliance Working Groups (four per annum in both the ROI and NI)
- On-going advice and support from credit union compliance advisors
- Access to compliance templates, guidelines and briefing documents
- Monthly compliance updates
- Guidance on the compliance statement (ROI)
Subscribing to the CUCC couldn’t be easier, just follow these four simple steps:
- Email firstname.lastname@example.org to register your interest on behalf of the credit union.
- A letter of engagement with attached terms of business will be sent to the Honorary Secretary to be signed by the Chair of the Board or other authorised officer.
- Once the signed letter is returned, you will be asked to nominate a primary and secondary contact person.
- The primary contact person will be issued with a unique identifier (username) and password – your credit union can now access the CUCC service.