British Credit Union Historical Society

           Promoting Unity-Preserving the Past-Educating the Present-Enriching the Future

The Island of Ireland

Credit Unions In Ireland

 

Nora Herilhy introduced the Credit Union movement into Ireland in 1958 with the support of a number of other dedicated pioneers. Since then, the Credit Union philosophy of mutual self-help has proved very popular, and there are now over 530 Credit Unions affiliated to the Irish league of Credit Unions throughout the country. In Ireland over two million members have recognized the value of credit unions, and have savings approaching several billion euros with their credit unions. 

The credit union movement in Northern Ireland dates back to the 1960s. In 2008/9 it was reported to COMMITTEE FOR ENTERPRISE, TRADE AND INVESTMEN That there was 181 credit unions serving over 400,000 members. There are two main representative bodies, which look after the interests of credit unions. These are the Irish League of Credit Unions and the Ulster Federation of Credit Unions. Following concerns raised by the two representative bodies, the Enterprise Trade & Investment Committee commissioned research into the issue and subsequently decided to undertake an Inquiry. There was strong support from the credit union movement for the proposal that credit unions in Northern Ireland should be allowed to expand their range of services to cover at least those services which credit unions in GB are able to offer. This viewpoint was strongly supported by the Committee. The Committee believed that, as a first step, credit unions in Northern Ireland should be permitted to expand their range of services to include, at the very least, those services, which credit unions in GB can currently offer. The Committee sees the establishment of an FSA presence on the ground in Northern Ireland as key to the success of regulatory changes and expansion of credit unions services. Credit unions have an excellent working relationship with DETI Companies Registry, which cannot possibly be mirrored by an organisation operating from London or Edinburgh. In order to successfully bring about the changes proposed, credit unions will need hands-on support from the FSA on a regular basis and the FSA will need time and hands-on involvement to get to know the credit union movement in Northern Ireland.

In 2012 Credit Unions In Northern Ireland came under the same regulators in the UK.

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18.08 | 14:55

I am very proud to be a part of the credit union and the ethos of people helping people.

Congratulations to No1 CopperPot.

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27.08 | 20:58

very very best knowledge toture and lovely group, geting a knowledge and share a experiance from all member of DE2015. what a lovely group?

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14.07 | 04:57

A very inspiring and educational experience. It awaken my interest to serve the community.

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01.07 | 13:06

As schools Development Worker for Unify Credit Union, I found the schools project resources very useful.... some really good ideas, Thank you x

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