How we're run: Corporate Governance at GWCU

That means meeting the highest standards of corporate governance, staying fully compliant with our regulators, and always putting our members first, because we’re owned by you.

We’re authorised by the Prudential Regulation Authority (PRA) and regulated by both the Financial Conduct Authority (FCA) and the PRA. Our Firm Reference Number is 213583. You can find us on the Financial Services Register.

We’re also proud members of the Financial Services Compensation Scheme and we subscribe to the Financial Ombudsman Service, giving you peace of mind that your money is protected.

Our legal framework

Credit unions in Great Britain operate under the Credit Unions Act 1979 and the Co-operative and Community Benefit Societies Act 2014. Our mutuals registration number is IP00597C (or 597C on the FSA Mutuals Register) at mutuals.fsa.gov.uk.

Transparency for our members

This section is all about how we’re run, from our financial performance to how our democratic structure works. It’s written for our members, because you deserve to know how your credit union is doing.

We publish our Annual Accounts every year for our members. These are independently audited and prepared in line with the Credit Union Act 1979. Our financial year ends on 30th September.

As a co-operative, we’re governed by a Rule Book, approved by members at our General Meetings. Once it has been agreed, any updates are registered with the Financial Conduct Authority.

We hold an Annual General Meeting (AGM) every year, where members come together to review our progress and vote on key decisions. We may also call Special General Meetings if something important comes up between AGMs.

Only GWCU members and invited guests can attend, and we’ll always notify you in line with our Rule Book.