The Nolan Principles

Halton Credit Union adheres to the Financial Service Authority’s ‘Treating Customers Fairly’ Code ofConduct and has adopted The Nolan Principles (the code of ethics for best practice in promoting good behaviour in public life).

Although the Financial Service Authority has since been replaced by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), the Treating Customers Fairly Code of Conduct has once again been adopted by these regulatory bodies and is still applicable. 

In the public sector the Nolan Principles set out the principles of good governance for those holders of public office including how they must ensure accountability to the public    

1.    Selflessness: Holders of public office should take decisions solely in terms of the public interest. They should not do so in order to gain financial or other material benefits for themselves, their family, or their friends.

2.    Integrity: Holders of public office should not place themselves under any financial or other obligation to outside individuals or organisations that might influence them in the performance of their official duties.

3.    Objectivity: In carrying out public business, including making public appointments, awarding contracts, or recommending individuals for rewards and benefits, holders of public office should make choices on merit.

4.    Accountability: Holders of public office are accountable for their decisions and actions to the public and must submit themselves to whatever scrutiny is appropriate to their office.

5.    Openness: Holders of public office should be as open as possible about all the decisions and actions that they take. They should give reasons for their decisions and restrict information only when the wider public interest clearly demands.

6.    Honesty: Holders of public office have a duty to declare any private interests relating to their public duties and to take steps to resolve any conflicts arising in a way that protects the public interest.

7.    Leadership: Holders of public office should promote and support these principles by leadership and example.