Noonan: Credit Unions still have important role to play
Finance Minister Michael Noonan
Finance Minister Michael Noonan has told the annual general meeting of the Irish League of Credit Unions that the Government believes they continue to have an important role to play both in the financial sector and in Irish society.
The restructuring of the credit union sector is the main item up for discussion at the meeting in Killarney this weekend.
It follows a report by the Commission on Credit Unions earlier this week, which recommended a four-year programme of amalgamating branches across the country.
Minister Noonan told the meeting this morning that he will be moving shortly to establish an implementation group to advise him on the progress in rolling out the recommendations.
Kieron Brennan, Chief Executive of the Irish League of Credit Unions, said people need not worry about losing their local credit union office in the restructuring.
"It's the intention of the commission that the Credit Union footprint remain largely the same," he said.
"So your local office will be there, as always.
"It might be part of a bigger Credit Union, so the back-office elements of the operation… could be amalgamated, and in fact that might bring more and better services (to customers).
"So smaller Credit Union offices could move to a position where they could be open for longer hours."
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