CRED 17.6 Record Keeping and Reporting

A credit union must make and retain records of complaints (except those referred to in CRED 17.4.1 R) for a minimum period of three years from the date of its receipt of a complaint.

A credit union must provide the FSA, once a year, with a report in the format set out in CRED 17 Annex 1 R (Credit Union complaints return) which contains (for the relevant reporting period) information about:2

1. (1)

   the total number of complaints received by the credit union (except those referred to in CRED 17.4.1 R) broken down according to the categories and in respect of each of the generic product types described in CRED 17 Annex 1 R(Credit union complaints return) which are relevant to the credit union;2

2. (2)

   the number of complaints closed by the credit union:2

   1. (a)

      2within eight weeks of receipt; and

   2. (b)

      more than eight weeks after receipt;

3. (3)

   the total number of complaints:3

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   1. (a)

      upheld by the credit union in the reporting period;3

   2. (b)

      that the credit union knows have been referred to, and accepted by, the FOS during the reporting period; and3

   3. (c)

      outstanding at the end of the reporting period;3

4. (4)

   the total amount of redress paid in respect of complaints during the reporting period; and3

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5. (5)

   the single contact within the credit union for complainants.3

For the purposes of CRED 17.6.3 R2:

1. (1)

   the relevant reporting period is from 1 April to 31 March each year; and 2

2. (2)

   2reports are to be submitted to the FSA within one month of the end of the relevant reporting period.

For the purposes of making reports under CRED 17.6.3 R, a closed complaint is a complaint:

1. (1)

   where the credit union has sent a final response;

2. (2)

   where the complainant has positively indicated acceptance of the credit union's earlier response; or

3. (3)

   where the complainant has failed to revert to the credit union within eight weeks of the credit union's most recent letter.

A report under this section must be given or addressed, and delivered, in the way set out in SUP 16.3.6 R - SUP 16.3.16 G (General provisions on reporting) (see CRED 14.10.4 G - CRED 14.10.4F G) , except that:2

1. (1)

   instead of the credit union's usual supervisory contact, the report should be given to or addressed for the attention of the Notification, Reporting and Data Maintenance department of the FSA; and

   2
2. (2)

   in addition to the methods of submission of reports in SUP 16.3.9 R, a credit union may submit a report under this section through, and in the electronic format specified in, the FSA's Complaints Reporting System.2

2A credit union that has started but intends to stop submitting reports in electronic format under CRED 17.6.8 R (2) must first notify the Notification, Reporting and Data Maintenance department of the FSA in writing of this intention.

2If a credit union is unable to submit a report in electronic format because of a systems failure of any kind, the credit union must:

1. (1)

   submit its report under this section through one of the alternative methods of submission of reports in SUP 16.3.9 R (see CRED 14.10.4 G); and

2. (2)

   notify the FSA, in writing and without delay, of that systems failure.

For the purpose of inclusion in the public record maintained by the FSA, a credit union must provide the FSA, at the time of its authorisation, with details of a single contact within the credit union for complainants, and in its quarterly return must notify the FSA of any subsequent change.