CONSUMER DUTY

The Board of SAG Credit Union Limited conducted a review of the credit union's performance against the Financial Conduct Authority (FCA) Consumer Duty outcomes. The review encompassed various aspects of our operations, focusing on the four key outcomes outlined by the FCA:
• Outcome 1 – Member can access products and services that meet their needs,
• Outcome 2 - Members can expect products and services that are fit for purpose,
• Outcome 3 - Members can expect products and services that deliver fair value, and
• Outcome 4 - Consumers can expect an appropriate level of care and support from the credit union

Overall, our performance against the FCA Consumer Duty outcomes was found to be Satisfactory. We have demonstrated a commitment to ensuring that our products and services meet the needs of our members, are fit for purpose, deliver fair value, and are accompanied by an appropriate level of care and service.

However, the review also identified several areas where improvements could be made to further enhance our compliance with the FCA's expectations and better serve our members.

You can read our Annual Consumer Duty Board Report and Assessment please click here