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The first ever virtual ACE AGM, which was held on the 18th November 2020, attracted 15 out of 24 ACE members. Representing members from England, Scotland, Wales and the Channel Islands the AGM formally approved the 2019-2020 annual accounts and elected 10 new and existing directors for 2020-2021. At the meeting Alan Robson said that he would be standing down as Chair of ACE but that he would continue as an ACE director. The new Chair of ACE will be appointed at the December 2020 Board meeting. The meeting gave big thank you to Alan for his excellent work as Chair of ACE over the past 5 years. Alan said that he hoped that more ACE members would nominate somebody to represent their credit union on the ACE Board as there were still 4 vacancies. ACE CEO said that after some technical delays the revised ACE Model Rulebook was now close to being approved by the FCA. There was a brief discussion about the 2021 ACE Conference that could possibly be delayed again depending on the length of time that the Covid-19 pandemic continues.


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The Money & Pension Advice team have produced bilingual, free and impartial money guidance for your customers, clients or staff. More information is available here

Coronavirus COVID 19

You may have already started to write your own Contingency Plans for the impact of COVID 19. With thanks to all UK Credit Union Trade Associations the factsheet here is not meant to replace or change anything that you have already implemented but it might help those of you who have not yet planned how to respond to the impact of Covid-19 as yet. 

 

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.