Overhaul of credit unions imminent

Finance Minister Michael Noonan is to set up an implementation group in the coming weeks to put in place recommendations for an overhaul of credit unions.

The group will include representatives similar to those who sat on the Commission on Credit Unions, which recently made the recommendations that will bring about the biggest transformation in the history of the Irish credit union movement.

Mr Noonan plans to publish the Credit Union Bill before the end of June, which will give effect to changes in regulation and governance outlined in the commission’s report.