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ARMAGH CREDIT UNION LTD

Cheque Signatories Policy
This policy was adopted by the Board of Directors of Armagh Credit Union Limited.

Signed:-

Position

________________

Position

________________

Date:

Armagh Credit Union is authorized and regulated by the Financial Conduct Authority and Prudential Regulation Authority: Registration Number 573925: Version Dec2015


ARMAGH CREDIT UNION LTD

The purpose of this policy is to ensure that ALL cheques are covered by two signatures and to ensure that new Bank Mandates are completed each year indicating the approved signatories for the forthcoming year. At the first meeting of the new Board of Directors following the Annual General Meeting the Board must approve cheque signatories.

Bank Mandates: Bank mandates for the Bank of Ireland and First Trust must be completed. Each authorised signatory must supply: a) Signature b) All information required by law (eg. Photographic proof of identity, etc.)

Authorised Signatories: Authorised signatories are: a) The following Board Officers can sign cheques; President, Vice-President, Treasurer, Secretary b) Manager c) Assistant Manager d) All nominated Tellers

Signing Instructions: ALL cheques require TWO signatures. Before countering-signing, a check on the details must be
made to ensure procedures/checks are followed.

Internal Cheques: Any two members of staff who are Authorised Signatories, by the Board, may co-sign an internal cheque to ё 5,000, anything above ё 5,000 should be referred to Manager/ Assistant Manager.

Armagh Credit Union is authorized and regulated by the Financial Conduct Authority and Prudential Regulation Authority: Registration Number 573925: Version Dec2015


ARMAGH CREDIT UNION LTD

Cheque Limits: Individual cheque signing limits are as contained within the Loans Policy.
Individual Staff Loan Limits

Name Manager

Max Loan Limit Shares + ё12000

Assistant Manager Shares + ё10000 Grainne Graham AnneMarie Kelly Shares + ё5000 Shares + ё5000

Kiera McCormack Shares + ё5000 Celene Garvey Joanne Smith Maria Periera Maeve Guy Megan McKenna Lisa Ryan Shares + ё5000 Shares + ё5000 Up to Share Holding Up to Share Holding Up to Share Holding Up to Share Holding

Other cheques:
1. Staff salaries; MUST be signed by President/Treasurer or his/her nominee and

Manager/Assistant Manager/ nominated Board Member
2. Cheques to Staff; All cheques to a fellow staff member MUST be counter-signed

by the Manager/Assistant Manager/nominated Board Member.
3. National Insurance; MUST be signed by President/Treasurer or his/her nominee

and Manager/Assistant Manager/ Board Member
4. Pension; MUST be signed by President/Treasurer or his/her nominee and

Manager/Assistant Manager/ Board Member
Armagh Credit Union is authorized and regulated by the Financial Conduct Authority and Prudential Regulation Authority: Registration Number 573925: Version Dec2015


ARMAGH CREDIT UNION LTD
5. HM Revenue & Customs; MUST be signed by President/Treasurer or his/her

nominee and Manager/Assistant Manager/ Board Member
6. Payment of Credit Union Bills (up to value of ё100); MUST be signed by

Manager/Assistant Manager and member of staff who is an Authorised Signatory
7. Payment of Credit Union Bills (above ё100.01); MUST be signed by

President/Treasurer or his/her nominee and Manager/Assistant Manager/ Board Member
8. Loans/Share withdrawals (within Teller 's loan limit); Teller issuing

loan/withdrawal and Manager/Assistant Manager/Another Teller (providing the cheque is not above the co-signing Teller 's loan limit and that co-signing Teller checks loan application
9. Loans/Share withdrawals (above individual's loan limit); Manager/Assistant

Manager/Board Member - any two of these or one of these and Teller.

Armagh Credit Union is authorized and regulated by the Financial Conduct Authority and Prudential Regulation Authority: Registration Number 573925: Version Dec2015