Credit Unions want more control

CALLS for the easing of restrictions to allow credit unions operate in a freer business environment are to be made at the national credit union conference this weekend.

Ireland has 531 credit unions, north and south of the border with close to three million members. The 1,000 delegates will be hoping to finalise a two-year strategic plan for the credit union movement to April 2007 and update the movement’s rules to facilitate continued development.

“To continue developing the movement, legislative change will be required in the coming two-year period,” said Irish League of Credit Unions (ILCU) president John O’Regan last night. Such legislation would allow the ILCU to continue its business development and information technology (IT) will have a key role in the future.