Treating Customers Fairly

TREATING CUSTOMERS FAIRLY

(See HCU Policy and Procedure documents)

Our regulators, The Financial Conduct Authority and the Prudential Regulation Authority have adopted the former Financial Services Authority (FSA) ‘Treating Customers Fairly Policy’ which stipulates that we must take reasonable measures to ensure all our customers are treated fairly.

There are six areas of focus for Halton Credit Union:

  • Members can be confident that they are dealing with a Credit Union where fair treatment of members is central to the culture of the organisation
  • Products and services provided are designed to meet the needs of members
  • Information provided before, during and after the point of sale is clear and not misleading
  • Where members receive advice, the advice is suitable and takes account of their circumstances
  • Members are provided with products that are fit for purpose
  • Members do not face unreasonable post-sale barriers to change product, switch provider, submit a claim or make a complaint
     

CONSUMER VULNERABILITY(Taken from HCU Policy and Procedure documents)

As a member of staff or a volunteer for HCU you must be aware that some of the people we deal with could be considered vulnerable.  Credit Unions are at an advantage as we typically have a good relationship with our members and so we get to “know your customer” (KYC)

HCU has good policies and practices in handling member disclosure or communication needs – pop ups on the computer system are used to inform ALL staff that amember is dyslexic, or needs help filling in forms etc. For additional privacy, an interview room could be pre-booked.
 

HCU Good Practice For Members is as follows:

  • All information on HCU’s financial products is clear and easy to understand.
  • HCU offers face-to-face dealings – unfortunately we do not have our information in audio or Braille format.
  • We treat members as individuals – even though all members are treated equally different circumstances can influence decisions.
  • Customers can talk to someone with the time to listen – members can always book an appointment with one of our Managers
  • When disclosed, information about a members needs are recorded so they don’t have to repeat it every time (Diary Notes and/or Pop Up on Members Account)
  • All staff are aware that if they suspect suspicious activity that may signal abuse, fraud or money laundering they must report it to a Manager who will take appropriate action.
  • HCU is a listening company and even though we cannot resolve every issue for our members, a Manager may be able to signpost to an external agency that can.
  • If you are recently bereaved, have a power of attorney or third party mandate, you will receive consistent advice and treatment from one of our Managers.

Managers have flexibility in the application of terms and conditions of HCU’s services, therefore if a member ofstaff or volunteer has any concerns regarding a members wellbeing or feel that a member is experiencing difficulty or needs extra support, they should discuss with their Manager.

Managers conducting interviews also have the ability to refer or signpost to other agencies.
 

HCU requires all frontline counter staff to:

  • Be consistent in their approach
  • Be able to facilitate proper conversation
  • Be discreet, compassionate and patient
  • Provide clear and simple information/instruction
  • Be aware of and adhere to HCU’s policies around Treating Customers Fairly and Data Protection
  • Be able to read/add to diary notes on a members account if necessary – i.e. include a pop up that states the member is dyslexic, difficulty filling in forms etc.
  • Be able to assess the sensitiveness of a members situation/circumstance and act accordingly - take member into a private room or make a referral to a Manager