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Decision details
Bristol Credit Union Investment
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Decision:
1) Cabinet approved the investment of £500,000 into Bristol Credit Union for a term of ten years at an initial coupon rate of 6% - with gateway reviews at years 2(3) and 5.
2) Cabinet delegated authority to the Director of Finance and the Director – Legal & Democratic Services to finalise the terms of the agreement for the investment in BCU
3) Cabinet delegated authority to the Director of Finance to agree a performance monitoring framework with BCU to identify early and mitigate any risk associated with the investment
Report author: Mike Jackson
Publication date: 02/04/2019
Date of decision: 02/04/2019
Decided at meeting: 02/04/2019 - Cabinet
Effective from: 10/04/2019
Accompanying Documents:
- BCU investment 110319 v4
PDF 140 KB - Bristol Credit Union appendix A
PDF 315 KB
- Restricted enclosure View reasons restricted
- Restricted enclosure View reasons restricted