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Madison CF UK Limited -  s172 Statement

The Directors of Madison CF UK Limited (the “Company”) take their responsibilities to shareholders and stakeholders very seriously. The Board of Directors comprises both member nominated and independent Directors to provide representation of both member and other stakeholder interests in its decision making. In 2019 the Board held a strategy day and reviewed the business plan for the Company, creating a clear vision against which to assess the consequences of their decisions in the long term. This vision has been shared with the Company’s employees through a series of interactive town hall meetings. In 2019 the Company carried out a customer satisfaction survey to gain insights from customers of their experience of the Company’s original credit card product. This informed the development and launch of the new credit card product later in the year.

The Directors have identified the Company’s regulators, in particular the FCA, as key stakeholders and receive reports at every Board meeting on the Company’s engagement with the FCA. The Directors oversee a planned programme of regular reviews of the Company’s policies and processes to ensure that its compliance frameworks drive high standards of business conduct.