24 October 2023
SAG is a member focused co-operative. Having an account with SAG Credit Union Limited makes you a shareholder in SAG Credit Union Limited. We are regulated and governed by the Bank of England, Prudential Regulation Authority (PRA) and The Financial Conduct Authority (FCA). The Financial Conduct Authority introduced new requirements in July 2023. These are known as Consumer Duty (the Duty) requires us, as a Credit Union, to deliver the following for our members:
- Good Outcomes
- Act in Good faith, avoiding causing foreseeable harm.
- Enable and support them to pursue their financial objectives.
- Consider the diverse needs of our member, including those with characteristics of vulnerability.
The Duty in effect fits with the core purpose of SAG Credit Union ltd – Delivering Safe Financial Services for our members. Any member who wishes to have more information about the Consumer Duty can contact the Office to see our Consumer Duty Implementation Plan.