The PRA has updated its credit union webpage with information on interest-bearing shares, which is only applicable to credit unions in Great Britain.

The webpage explains what an interest-bearing share is and sets out the conditions that must be met before a credit union can issue them.

The PRA has also issued a:

  • template for the report that credit unions issuing interest-bearing shares must submit to it; and
  • notification form that credit unions must submit to it before offering corporate membership, deferred shares and/or interest-bearing shares.

View Credit unions, 5 December 2013

View Credit unions – issue of interest-bearing shares, 5 December 2013

View Notification of starting a specified activity, 5 December 2013