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Prudential requirements for credit co-ops

Written directions are in place for credit co-ops to strengthen their prudence and risk management. These requirements re-focus the credit co-ops towards their core business of thrift and loans, and ensure accountability to their members.

Written directions to date:

Submission of financial returns

Credit co-ops are required to submit these returns to the Registry annually:

Type of document

Submission date

  • Completed Form WD-1
    • To report the audited year-end financial position,
      capital adequacy ratio, minimum liquid assets,
      restricted investments and loans data
Due 6 months after the
close of the previous
financial year
  • Completed Form WD-1A
  • Mid-year unaudited Balance Sheet
  • Mid-year unaudited Income & Expenditure Statement
Due 2 months after end of
the current mid financial
year
Last updated on 26 December 2019