We will shortly publish the findings of a thematic review undertaken on the maturity of risk management frameworks in credit unions and I urge credit union board members and managers to consider the findings, that will be set out in the report, to support them in enhancing and embedding their risk management frameworks to ensure they can identify and mitigate evolving and emerging risks.
Strategic business model change I have described some of the forces driving change in the financial services system. Credit unions have existing business model challenges – particularly in relation to the levels of lending relative to members’ funds.