Spain trip to cost credit unions €25k

THE Irish League of Credit Unions (ILCU) is to spend €25,000 of members’ funds to finance the cost of sending 12 delegates and five of their spouses to an overseas conference.

The fee will cover the flight and accommodation costs of nine members of its board of directors and three members of its supervisory committee. It also includes the cost of flights, but not accommodation, for five of the delegates’ spouses. ILCU declined to say which delegates were bringing spouses.

Defending its decision to send such a sizeable delegation to Barcelona, Spain, at a time when credit unions around the country are warning of inability to pay dividends, a spokesperson for ILCU said yesterday the league believed there was “enormous benefit in this year’s event”, given one of the main themes is “how credit unions and financial sector leaders are securing credit union members’ futures in light of the current economic crises”.

A statement from ILCU said the league was “acutely aware of the current exceptionally difficult environment for all in the financial sector” and it was for this reason it believed members would benefit from attending the four-day conference. The statement said it was “worth noting that all credit union board members are volunteers who give their time, skills and experience to the development of the credit union movement without remuneration”.

“These learning opportunities are critical to the ability of credit union leaders to support the future development and growth of a volunteer-based movement which services the needs of its 2.9 million members across the country; one of the highest credit union membership penetration figures of all participating countries,” the statement said.

ILCU also reiterated that chair of the Government’s credit union advisory committee Padraig Ó Cearbhaill, listed on the registration programme under the ILCU banner, was not a guest of the league and that the league had not paid for him to attend.

A spokesperson for the Department of Finance said it was not funding his trip either.

The annual conference of the World Council of Credit Unions (WCCU) kicks off on Sunday and runs until July 29. Delegates from 50 countries worldwide will attend, including 80 delegates from Ireland, the third-highest representation of all countries attending. The registration fee per delegate is about €840. Flights and accommodation are additional.