CREDS 1.1 Application and purpose

1. (1)

   The Credit Unions sourcebook3, CREDS for short, is the specialist sourcebook for credit unions.

   3
2. (2)

   [deleted]2

   2

CREDS sets out rules and guidance that are specific to credit unions. CREDS 10 refers to other more generally applicable provisions of the Handbook that are likely to be relevant to credit unions, including those with other permissions to carry out regulated activities in addition to7 Part 4A permission to accept deposits. For details of these provisions, we would expect credit unions to access the full text in the Handbook.

The status of the provisions in CREDS is indicated by icons containing the letters R, G or E. Please refer to 5the Reader's Guide for further explanation about the significance of these icons. The Reader's Guide can be found 8at http://www.fca.org.uk/your-fca/documents/handbook/handbook-readers-guide