We are pleased to say that the UK Financial Services Authority have approved the use of the name Credit Union Direct under 3(3) b of the Credit Unions Act 1979. Approval is granted for a period of two years from 11 January 2007. Approval is granted on condition that:
i) Credit Union Direct does not take deposits; and
ii) it discloses clearly in all its written or electronic communications that it is not currently regulated by the Financial Services Authority and neither is it, nor any transactions with it, covered by the Financial Services Compensation Scheme.
