merrion street

The Commission on Credit Unions is announcing a public consultation process.

The Government established the Commission to review the future of the credit union movement and make recommendations in relation to the most effective regulatory structure for credit unions, taking into account their not-for-profit mandate, their volunteer ethos and community focus, while paying due regard to the need to fully protect depositors savings and financial stability.

Prof. Donal McKillop, Chair of the Commission, said that, "Credit unions play an important role in Irish society." Prof. McKillop went on to note that, "While the members of the Commission bring a lot of knowledge and understanding of credit union issues to the Commission’s work, they recognise that many members of the public, in particular the many thousands of people who work for credit unions on a voluntary basis, have a lot of experience and knowledge of credit unions that will enhance the work of the Commission."

While the Commission is open to receiving submissions from members of the public and interested parties that will facilitate the good functioning of the Irish credit union movement going forward, it is particularly interested in people’s views on the role of credit unions, their current operating model, shared services, financial inclusion, governance standards and regulatory requirements.

Anyone wishing to make a submission to the Commission can do so up until 25 August, 2011 by writing to:

Secretary to the Commission on Credit Unions,

Commission on Credit Unions,

Department of Finance,

South Block,

Government Buildings,

Dublin 2.

 CCU.Submissions@ccu.gov.ie