Consumer Duty-1

Consumer Duty


In 2022 the Financial Conduct Authority, launched a new set of rules called Consumer Duty.


The rules have been put in place to raise standards and trust in financial services, and to improve outcomes for consumers. The idea is that financial services providers, including credit unions, must always act in good faith to customers (in our case members) and avoid any foreseeable harm caused by using our services. The aim is to support people in pursuing their financial objectives.


Consumer Principle

Hoot is expected to have the interests of members at heart and treat them fairly. We must strive to deliver good outcomes for our members.


Consumer Principle

Our Policy

Hoot is committed to providing an appropriate level of service and access to products that deliver good outcomes for members.
Products and Services


All members have access to appropriate products and services, and individual applications will be assessed to ensure that a product will not be offered that would be knowingly detrimental to the member.


Price and Value


Members will have access to products that compare favourably with alternative, like for like products and services.


Consumer Understanding


Hoot will use various means to educate its members on all aspects of borrowing, consequences of arrears and the general management of money.


Consumer Support


Staff will be trained to recognise signs of financial vulnerability and members will be provided with timely and appropriate information and support according to their circumstance.


More information

Click Here to go the the FCA website

for more detailed information about the Consumer Duty rules