The Credit Unions (Increase in Limits of Shareholding, of Deposits by persons too young to be members and of Loans) Order 1989
This Order increases the following limits imposed by the Credit Unions Act 1979 on credit unions registered under the Industrial and Provident Societies Act 1965:the limit on a member’s shareholding in the credit union from £2,000 to £5,000;the limit on the deposits which the credit union may take from persons too young to be members from £250 to £750; and,the limit on loans in excess of a member’s total paid-up shareholding in the credit union from £2,000 to £5,000.