The Credit Unions Act 2010 (Act) provides details regarding licensing for credit unions in Bermuda, found in the Regulatory Legislative Documents under Legislation. The Authority’s regulatory framework take into consideration international principles and standards employed by the World Council of Credit Unions. The Authority’s Statement of Principles (SoP) was drafted pursuant to section 5 of the Act and outlines among other components, the minimum licensing criteria (second schedule) for credit unions in Bermuda. A copy of the CU SoP is available in the Regulatory Legislative Documents under Policy and Guidance.
