Complaint Handling Procedure

Complaint Handling Procedure

Waterside Credit Union aims to provide members with a first-class service and are treated fairly, impartially and with dignity.  We welcome the opportunity to put things right for members who are dissatisfied with our service. Feedback will be used to help improve services and enhance member care. Definition of Complaints and Eligible Complainants The credit union defines a complaint as: “Any oral or written expression of dissatisfaction, whether justified or not, which alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience.  A complaint can be from, or on behalf of, an “eligible complainant” about a credit union’s provision of, or failure to provide, a financial product or service.” For the purposes of this Complaints Policy, an Eligible Complainant is a person or organisation who is entitled to have a complaint considered by the Credit Union and, if necessary, referred to the Financial Ombudsman Service. An eligible complainant therefore is:

1. A credit union member or minor depositor or potential or former member or minor depositor.
2. A nominated beneficiary or personal representative of (a) above.
3. A micro-enterprise which:
   • has a turnover or annual balance sheet that does not exceed €2 million
   • employs fewer than 10 persons
4. A small business which:
   • is not a micro-enterprise
   • has an annual turnover of less than £6.5 million
   • has a balance sheet total of less than £5 million, or employs fewer than 50 employees
5. Charities with an annual income of less than £6.5m
6. trusts with a net asset value of less than £5m
7. individuals who act as personal guarantors for loans to businesses they’re involved in.

  The Credit Union asserts its right to make appropriate business decisions about any area of its operations, including admission of new members to membership and individual eligibility for loans as referenced in the membership and loan policies of Waterside Credit Union.   Non-member eligibility When a non-member is eligible A non-member may still qualify as an Eligible Complainant if they were directly affected by the credit union’s service. Common examples include:

• Applicants for membership or a loan who were declined or treated unfairly
• Third parties involved in a transaction (e.g. someone making or receiving a payment)
• Former members (no longer members but complaining about a past service)

In these cases, they may still fall within the eligibility criteria used by the Financial Ombudsman Service. When a non-member is not eligible A non-member usually cannot complain if:

• They have no direct relationship with the credit union
• They were not affected by any service or decision
• They are complaining on behalf of someone else without authority

Making a Complaint A complaint can be received by any officer, staff member or volunteer of the credit union. A complaint may be made in writing or orally to an officer or volunteer of the credit union. A complaint can be made:

• In person,
• By letter (Complaints Department, Waterside Credit Union, 55-57 Spencer Road, Waterside, Derry, BT47 6AA),
• By phone (02871 345579)
• By email (manager@wcu.uk.com)

Investigating and Responding to a Complaint The complaint will be passed to our Complaints Officer who will be responsible for investigating it. We aim to resolve the complaint to the complainant’s satisfaction as promptly as possible. Within 3 business days: The Credit Union aims to resolve complaints to the complainant’s satisfaction by the close of business on the third business day after the day on which the complaint was received. Over 3 business days: If the complaint cannot be resolved quickly and within three business days, an acknowledgement will be sent to the complainant. The acknowledgement will include the following information:

• Early reassurance that the credit union has received the complaint and is dealing with it
• That the complainant will be kept informed thereafter of the progress of the measures being taken to resolve the complaint
• The name or job title of the person handling the complaint
• The credit union’s internal complaint handling procedure.

Within 8 weeks: If still unresolved within 8 weeks of receiving a complaint, the Credit Union will send the complainant:

• A final response, or a response that explains the delay and advises the complainant when a final response can be expected. The complainant is advised that if dissatisfied with the delay, they can refer the complaint to the Financial Ombudsman Service. A copy of the FOS explanatory leaflet, ‘Your Complaint and the Ombudsman’, will be included in the response.

  Financial Ombudsman Service This Credit Union is covered by the Financial Ombudsman Service (FOS). If a complainant remains dissatisfied with our final response, they may refer the complaint to the FOS within 6 months of receipt of that response. The FOS can be contacted at: Financial Ombudsman Service, Exchange Tower, London E14 9SR Telephone: 0300 123 9 123 or 0800 023 4 567 Email: complaint.info@financial-ombudsman.org.uk www.financial-ombudsman.org.uk Waterside Credit Union Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority FRN 576113.