The Credit Unions Division’s primary role is to regulate the local credit union sector, helping to foster an enabling environment that bolsters member confidence and encourages a safe and sound financial system. Its main functions in this regard include:
- supervising and monitoring the industry
- conduction and assessing market research
- compiling statistical data from the industry
- providing guidance and advice to anyone interested in establishing a credit union
- facilitating industry-specific educational opportunities
- hosting consultations with members of the sector
- responding to queries and general complaints in relation to credit union matters
The Division derives its authority from the Financial Services Commission Act 2010-21, as well as from the Co-operatives Societies Act, Cap 378A, and the Co-operatives Societies Regulation 2008.
