The Credit Unions Division of the Financial Services Commission (FSC) was established with the formation of the FSC on April 1, 2011. The Division has responsibility for regulation of the Credit Union Sector. In addition to the Financial Services Commission Act 2010-21, the Division derives its authority from the Co-operative Societies Act Cap 378A and the Co-operative Societies Regulation 2008.
The mandate of the Division includes: market surveillance and regulation supervision; market research; facilitating industry specific educational opportunities and consultations.
The Division acts to support the FSC’s overall mission of fostering an enabling environment which bolsters investor and member confidence and encourages judicious risk management to underpin a safe and sound financial system.