Proposed Changes to the Foundation’s Objects

At their recent Credit Union Foundation Trustee Board meeting, Trustees agreed to change the Foundation’s objects. We are notifying stakeholders of the proposed changes for feedback and agreement. Please see the proposed changes outlined below.

Object 1

Original text: “To advance education amongst the public in matters pertaining to credit unions and their potential in relieving poverty and need and to provide education and training in the knowledge and skills pertinent to the establishment and management of credit unions;”

Proposed change: Remove “and to provide education and training in the knowledge and skills pertinent to the establishment and management of credit unions;”

Rationale: Keep this as an outward facing object to promote the use of credit unions to the public (including, and via, stakeholders).  Retain mention of relieving poverty and need to ensure general retention of original objects.

New text: “To advance education amongst the public in matters pertaining to credit unions and their potential in relieving poverty and need.”

Object 2

Original text: “To relieve poverty and need amongst communities in the United Kingdom and throughout the World which are in need of such relief by advising needy persons within those communities how to establish and manage credit unions.”

Proposed changes: Add “or prevent” after relieve. Add “providing education and training in the knowledge and skills pertinent to the advancement and management of credit unions” after by. Remove “advising needy persons within those communities how to establish and manage credit unions”

Rationale: Add “prevent” to stress how credit unions can improve resilience and reduce risk of poverty.  Remove mention of establishment of credit unions and replace with advancement.  Remove mention of “needy persons”.  It could be argued that there are individuals in any community who are in need.  Retention of “throughout the world” to allow DE Europe to continue to provide courses to people from different countries.

New text: “To relieve or prevent poverty and need amongst communities in the United Kingdom and throughout the World which are in need of such relief, by providing education and training in the knowledge and skills pertinent to the advancement and management of credit unions.”

Object 3

Original text: “To relieve poverty by providing grants, items, support and other services to credit unions to allow them to extend their services to individuals in need and/or charities, or other organisations working to prevent or relieve poverty.”

Proposed changes: Add “fulfil their objects” after “allow them to”. Add “of those services” after “individuals in need”. Remove “and/or charities, or other organisations working to prevent or relieve poverty”

Rationale: Add in “fulfil their objects” to include encouraging thrift, affordable credit, financial education into what the Foundation can help credit unions with.

New text: “To relieve poverty by providing grants, items, support and other services to credit unions to allow them to fulfil their objects and extend their services to individuals in need of those services.”

Please send in any feedback or comments by Friday 3rd April 2026 to Lucille.Harvey@creditunionfoundation.org