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.

Last updated 6 March 2026

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Table 1: Written directions to date

Issue date	Effective date	Description
23 Jun 2021	25 Jun 2021	Written direction – unsecured loans [PDF, 273 KB]
21 May 2020	21 May 2020	Written direction – capital adequacy and restriction on dividend [PDF, 408 KB]
18 Dec 2018	21 Dec 2018	Written direction – provisions for bad and doubtful loans and impairment loss for investments [PDF, 327 KB]
12 Jul 2023	1 Aug 2023	Written direction – investments [PDF, 266 KB]
29 Jun 2016	1 Jul 2016	Written direction - minimum liquid assets [PDF, 273 KB]
7 May 2013	10 May 2013	Written direction – submission of financial returns [PDF, 178 KB]
29 Aug 2011	1 Nov 2011	Written direction – secured loans [PDF, 43 KB]

Submission of financial returns

Table 2: Credit co-ops are required to submit these returns to the Registry annually

Type of document	Submission date
Completed Form WD-1 [XLSX, 41 KB] 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 [XLS, 68 KB] Mid-year unaudited Balance Sheet Mid-year unaudited Income & Expenditure Statement	Due 2 months after end of the current mid financial year

Government officials will never ask you to transfer money or disclose bank log-in details over a phone call.

Prudential requirements for credit co-ops

Submission of financial returns

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