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Bristol Credit Union
02/04/2019 - Bristol Credit Union Investment
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