2020 Budget proposes changes to Credit Union legislation
The Chancellor announced at Budget yesterday that the Government will bring forward legislation to allow credit unions to offer a wider range of products and services to their members, supporting their vital role in financial inclusion. The Budget document is available here, and the specific announcement is on p100.
As the Government conducted a wide-ranging consultation on the future of the credit union sector in 2014, they believe it would be unnecessary to repeat the process at this point. However, HM Treasury is keen to engage with the sector on the specifics of the changes.