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Lincolnshire Credit Union
The Lincolnshire Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Lincoln and operating throughout the county in the English Midlands. In 2011, the credit union had approximately 2,000 adult savers, nearly 500 borrowers and 350 junior savers. LincUp, Alford and District Community Bank and Louth Community Bank are previous trading names of Lincolnshire Credit Union. As of March 2020, A proposed merger between Lincolnshire Credit Union and Nottingham Credit Union was unveiled, with the proposed merge happening in June 2020. History The North Kesteven Credit Union was formed in 2001, adopting its current name in 2004, when the then Financial Services Authority agreed to an expansion of the common bond allowing the credit union to operate within the administrative county of Lincolnshire.How did it all begin?< ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Industrial And Provident Society
An industrial and provident society (IPS) is a body corporate registered for carrying on any industries, businesses, or trades specified in or authorised by its rules. The members of a society benefit from the protection of limited liability much like other corporate forms, but unlike companies for example, each member will normally only have one vote at a General Meeting regardless of their shareholding. The governance of a society is therefore democratically oriented rather than financially oriented. The legal form originated in the United Kingdom of Great Britain and Ireland and became the traditional legal form taken by trading organisations with democratic governance including: * co-operatives (which trade for the benefit of their members); * societies for the benefit of the community (which trade for the benefit of the broader community). In Great Britain the Co-operative and Community Benefit Societies Act 2014 has renamed these societies as ''co-operative or communi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Association Of British Credit Unions
The Association of British Credit Unions Limited, commonly known as ABCUL, is the leading trade association for credit unions in Great Britain. ABCUL represents around 70% of credit unions who in turn provide services to 85% of the British credit union membership. The Irish League of Credit Unions organises in Northern Ireland on an all-island basis. Both ABCUL and ILCU are members of the European Network of Credit Unions and World Council of Credit Unions. History In 1967, Hornsey Co-operative Credit Union and other West Indian credit unions formed the Credit Union League of Great Britain, which became the Association of British Credit Unions (ABCUL) in 1984. Separately, in 1964, Wimbledon Credit Union joined forces with two other credit unions operating from Roman Catholic churches in Highgate and Hove to form the National Federation of Savings and Co-operative Credit Unions; this later became the National Federation of Credit Unions (NATFED). The federation and the league agr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Unions Of The United Kingdom
Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower. Etymology The term "credit" was first used in English in the 1520s. The term came "from Middle French crédit (15c.) "belief, trust," from Italian credito, from Latin creditum "a loan, thing entrusted to another," from past ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lincolnshire Co-operative
Lincolnshire Co-op is an independent consumer co-operative which operates in Lincolnshire, and the surrounding counties. The society has over 220 outlets with its principal trading activity being its food stores, funeral homes, florist and crematorium, travel agencies, post offices and pharmacies. The Society is owned by over 295,000 members who hold Lincolnshire Co-op dividend cards, equal to approximately one quarter of the population of Greater Lincolnshire. The society also owns Gadsby's bakery which is based in Southwell, Nottinghamshire. As a co-operative, it shares all its profits with members. Ways of doing this include paying dividend and a dividend bonus at the end of the year, investing in new and improved services and supporting community groups and charities. Since Lincolnshire County Council closed a number of libraries across the county, Lincolnshire Co-op has operated three libraries as part of its commitment to supporting communities. In the last full year of tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Unions In The United Kingdom
Credit unions in the United Kingdom were first established in the 1960s. Credit unions are member-owned financial cooperatives operated for the purpose of promoting thrift, providing credit and other financial services to their members. Credit unions in the UK now offer a wide range of services to their members; including current accounts, payroll deductions, standing orders and insurance. Co-operative or mutual organisations engaging in cooperative banking, such as building societies, have existed in the UK since the 18th century. History Institutions known as mutual societies grew out of the friendly society movement of the 18th century, with the first mutual insurer, Equitable Life, being founded in 1762. Formalised under the Friendly Societies Act 1819, mutual institutions predated the welfare state and were formed to meet the needs of a growing urban working class. This communitarian self-help movement allowed small regular individual contributions to be pooled for mu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Compensation Scheme
The Financial Services Compensation Scheme (FSCS) is the UK's statutory deposit insurance and investors compensation scheme for customers of authorised financial services firms. This means that FSCS can pay compensation if a firm is unable, or likely to be unable, to pay claims against it. The FSCS is an operationally independent body, set up under the Financial Services and Markets Act 2000 (FSMA), and funded by a levy on authorised financial services firms. The scheme rules of the FSCS are made by the Financial Conduct Authority (FCA) and are contained in the FCA's Handbook. The FCA also appoint its Board and the FSCS is ultimately accountable to the FCA. The scheme covers deposits, insurance policies, insurance brokering, investments, mortgages and mortgage arrangement. FSCS is free to consumers and, since 2001, has helped more than 4.5 million people and paid out more than £26 billion. Since 31 December 2010, maintaining a single customer view has become mandatory for Unit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Failure
__NOTOC__ Business failure refers to a company ceasing operations following its inability to make a profit or to bring in enough revenue to cover its expenses. A profitable business can fail if it does not generate adequate cash flow to meet expenses. Reasons Businesses can fail as a result of wars, recessions, high taxation, high interest rates, excessive regulations, poor management decisions, insufficient marketing, inability to compete with other similar businesses, or a lack of interest from the public in the business's offerings. Some businesses may choose to shut down prior to an expected failure. Others may continue to operate until they are forced out by a court order. The Small Business Administration, in an article on small business failure, lists additional reasons for failure from Michael Ames' book on "Small Business Management": * lack of experience *Un-trusted sales representative * insufficient capital * poor inventory management * over-investment in fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Conduct Authority
The Financial Conduct Authority (FCA) is a financial regulation, financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom. It focuses on the regulation of conduct by both retail and wholesale financial services firms.Archived here. Like its predecessor the Financial Services Authority, FSA, the FCA is structured as a company limited by guarantee. The FCA works alongside the Prudential Regulation Authority (United Kingdom), Prudential Regulation Authority and the Financial Policy Committee to set regulatory requirements f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prudential Regulation Authority (United Kingdom)
The Prudential Regulation Authority (PRA) is a United Kingdom financial services regulatory body, formed as one of the successors to the Financial Services Authority (FSA). The authority is responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms. It sets standards and supervises financial institutions at the level of the individual firm. Although it was initially structured as a limited company wholly owned by the Bank of England, the PRA's functions have now been taken over by the Bank and are exercised through the Prudential Regulation Committee. The company has since been liquidated. The PRA was created by the Financial Services Act 2012 and formally began operating alongside the new Financial Conduct Authority on 1 April 2013. As the Bank of England is operationally independent of the Government of the United Kingdom, the PRA is a quasi-governmental regulator, rather than an arm of the governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
East Midlands
The East Midlands is one of nine official regions of England at the first level of ITL for statistical purposes. It comprises the eastern half of the area traditionally known as the Midlands. It consists of Leicestershire, Derbyshire, Lincolnshire (except North and North East Lincolnshire), Northamptonshire, Nottinghamshire and Rutland. The region has an area of , with a population over 4.5 million in 2011. The most populous settlements in the region are Derby, Leicester, Lincoln, Mansfield, Northampton and Nottingham. Other notable settlements include Boston, Buxton, Chesterfield, Corby, Coalville, Gainsborough, Glossop, Grantham, Hinckley, Kettering, Loughborough, Louth, Market Harborough, Matlock, Newark-on-Trent, Oakham, Skegness, Wellingborough and Worksop. With a sufficiency-level world city ranking, Nottingham is the only settlement in the region to be classified by the Globalization and World Cities Research Network. The region is primarily served ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Co-operative
A cooperative (also known as co-operative, co-op, or coop) is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise".Statement on the Cooperative Identity. ''.'' Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors. Cooperatives may include: * businesses owned and managed by the people who consume th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lincolnshire
Lincolnshire (abbreviated Lincs.) is a county in the East Midlands of England, with a long coastline on the North Sea to the east. It borders Norfolk to the south-east, Cambridgeshire to the south, Rutland to the south-west, Leicestershire and Nottinghamshire to the west, South Yorkshire to the north-west, and the East Riding of Yorkshire to the north. It also borders Northamptonshire in the south for just , England's shortest county boundary. The county town is Lincoln, where the county council is also based. The ceremonial county of Lincolnshire consists of the non-metropolitan county of Lincolnshire and the area covered by the unitary authorities of North Lincolnshire and North East Lincolnshire. Part of the ceremonial county is in the Yorkshire and the Humber region of England, and most is in the East Midlands region. The county is the second-largest of the English ceremonial counties and one that is predominantly agricultural in land use. The county is fourth-larg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
