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Issue - meetings
Great Western Credit Union (GWCU - previously known as Bristol Credit Union) further investment from Fair4All funding
Meeting: 05/04/2022 - Cabinet (Item 23.)
PDF 707 KBAdditional documents:
- 2022 04 05 Cabinet GWCU Fair4All DRAFTv3JC Appendix I part1 , View reasons restricted (23./2)
- 2022 04 05 GWCU Appendix I part2 , View reasons restricted (23./3)
Decision:
Cabinet:
1. Approved the Investment of £1.5m from Fair4All Funding.
2. Authorised the Director of Finance and Director of Legal in consultation with the Deputy Mayor - Finance, Governance and Performance to review and approve (subject to the necessary due diligence being carried out) the £1m external match funding investment into GWCU.
3. Approved the proposed merger of the GWCU and SVCU in principle subject to satisfactory due diligence being undertaken.
4. Authorised the Director of Finance in consultation with the Deputy Mayor and Cabinet member for Finance, Governance, Property and Culture, to take all steps required to implement the merger subject to subject to satisfactory due diligence being undertaken.