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A new approach to financial regulation – judgment, focus and stability

Response to HM Treasury from the Association

We welcome the opportunity to respond to this consultation. ABCUL is the main trade association for credit unions in Britain. The Association represents approximately 70% of credit unions in England, Scotland and Wales who in turn represent about 85% of credit union membership.

Credit unions are not-for-profit, financial co-operatives owned and controlled by their members. They provide safe savings and affordable loan facilities. Credit unions also offer more sophisticated products such as current accounts, ISAs, Child Trust Funds and mortgages.

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