Credit Unions and Societies

This page is for societies registered under the Industrial and Provident Societies Acts (Northern Ireland) 1969 and 1976 and The Credit Unions (Northern Ireland) Order 1985. The Department for the Economy is responsible for the policy and legislative framework.

The regulation of credit unions is the responsibility of the Prudential Regulatory Authority and the Financial Conduct Authority (FCA) since 31 March 2012.

The registration function for credit unions and Industrial and Provident Societies became the responsibility of the Financial Conduct Authority on Friday 6 April 2018.

Recent legislative update

The Corporate Insolvency and Governance Act 2020 introduced a temporary measure enabling credit unions, co-operatives and community benefit societies to hold statutory meetings in a flexible manner. The temporary measure allows statutory meetings to go ahead without being held in a physical location.

The temporary measure expired on 30 September 2020.

The Department for the Economy has made and laid regulations extending the measure to 30 December 2020:

The regulations were approved by the NI Assembly on 3 November 2020.

Transfer of Registry to the FCA

On 6 April 2018, operational responsibility for the registration of Northern Ireland credit unions and Industrial and Provident Societies moved to the Financial Conduct Authority (FCA). All registration queries should be directed to the FCA.

Credit Unions and Co-operative and Community Benefit Societies Act (Northern Ireland) 2016

Please note that the remaining provisions of the Credit Unions and Co-operative and Community Benefit Societies Act (Northern Ireland) 2016 came into force on 6 April 2018.

Publications

Contact us

For further information or enquiries, contact the Department's Better Business:

Useful links


Related to Credit Unions and Societies

Access to information

How to request information from the Department for the Economy including Freedom of Information (FOI) and the use of our Publication Scheme.

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