FLA is the principal representative of the asset, consumer and motor finance sectors in the UK. In 2007 FLA members achieved £93.0 billion of new business. £28 billion was provided to the business sector and UK public services, representing almost 30% of all fixed capital investment in the UK last year (excluding real property and own-account software). The remaining £65 billion was provided to the consumer sector, representing almost 30% of all unsecured lending in the UK in 2007. FLA members provided £18.9 billion of motor finance in 2007 and financed more than 50% of all new car registrations in the UK last year.
Our members comprise banks, subsidiaries of banks and building societies, the finance arms of leading retailers and manufacturing companies, and a range of independent firms. The facilities they provide include finance leasing, operating leasing, hire purchase, conditional sale, personal contract purchase plans, personal lease plans, secured and unsecured personal loans, credit cards and store card facilities.
FLA’s mission is to promote an innovative, responsible and proportionately regulated market place, and to deliver value to members by helping them reap its benefits.
In aiming to fulfil our mission, we campaign for best practice in lending and leasing. Our Lending Code 2006 sets out standards of good practice for the consumer finance industry and is intended to reassure any consumer who applies for finance from full members that they are doing business with reputable organisations.
Vision
On a sustainable not-for-profit basis, deliver a full return on members’ investment as:
• Acknowledged representative and advocate for businesses in the asset, motor and consumer finance sectors.
• Promoter of industry best practice.
• Preferred provider of technical information, statistics and research, and of related services and events.
• Forum for all its members, within a co-operative framework consistent with fair competition.
Mission
FLA’s mission is to promote an innovative, responsible and proportionately regulated market place, and to deliver value to members by helping them reap its benefits.
Goals
Goal 1 Ethics and Behaviour
FLA will reinforce its credentials as the natural authority for industry knowledge and best practice.
Goal 2 Influence
FLA will focus the asset finance, motor finance and consumer credit sectors on the impact of external developments, and influence effectively the legal, fiscal and regulatory environment.
Goal 3 Information and Research
FLA will assist its members by being a leading resource for UK and European legislative information and sector and economic data; and instigate research to support evidence-based policy work, and to demonstrate the sector’s social and economic contribution.
Goal 4 Member Services
FLA will provide a forum for members to interact at all levels; underpin policy formation and dissemination by organising conferences and other events; commercially manage such services; recruit new members; and manage co-operative services on behalf of members.
Goal 5 Public Relations
Maintain and raise the profile of FLA as the leading trade body representing the
asset finance, motor finance and consumer credit industries, and make clear the benefits to consumers of dealing with members.
Goal 6 Cost-Effective Delivery
FLA will organise its resources, processes and structure so as best to deliver goals 1-5.
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