Guidelines for the Management of Credit Risk for Credit Unions

Published: Tuesday December 22nd, 2015

Amended: Friday June 30th, 2017

These Guidelines specifically address the management of the credit risk present in the business activities of credit unions, within their overall corporate governance process and risk management programme. The effective management of credit risk as a component of a comprehensive risk management programme is fundamental to the safety and soundness of all credit unions and is critical to their long-term viability. These Guidelines should be read in conjunction with the "Guidelines for the Corporate Governance of Credit Unions”. Additionally, the Central Bank endorses the principles and best practices of the World Council of Credit Unions (WOCCU). Credit unions are encouraged to refer to these principles and best practices on the WOCCU’s website at http://www.woccu.org.