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Minister Fleming announces Credit Unions now able to hold virtual AGMs

New legislation to help Credit Unions in response to public health guidelines

Minister of State with responsibility for Financial Services, Credit Unions and Insurance, Sean Fleming TD has today (Monday) welcomed the passage of the Finance (Miscellaneous Provisions Bill) 2020 by the Oireachtas. This Bill gives Credit Unions discretion for the first time ever to convene wholly or partly virtual Annual General Meetings (AGMs).

The new measures have been introduced in response to public health guidelines restricting gatherings (including AGMs) due to the COVID-19 pandemic.

The legislation has extended the date by which Credit Unions can hold their AGMs, from the end of January to April 2021. These provisions will facilitate greater participation by Credit Union members at their AGMs.

Minister of State at the Department of Finance, Sean Fleming TD said:

“I want to thank the Credit Union movement, the directors and staff for supporting and assisting their members during COVID-19. Credit Unions are embedded in our communities and have always been instrumental in helping people and small businesses. This legislation empowers Credit Unions to make their own decisions and continue to operate during the pandemic.”

“I look forward to working with the sector to address the many challenges facing the Credit Union movement.”