Ireland's Department of Finance commences a sector-led Credit Union Strategy Project and appoints independent chairs

Ireland's Department of Finance has announced the commencement of the Credit Union Strategy Project, a Programme for Government commitment intended to produce the first sector-wide strategy for Ireland’s credit union movement. The project is designed to be owned and developed by the credit union sector, with operational support from the Department of Finance, and is expected to take around 12 months. Two independent chairs have been appointed to lead the governance structures for delivery. Dr Orlaigh Quinn will chair the Project Governance Board, which will provide oversight and final approval of the vision and strategy, while Tom Allen will chair the Strategy Committee, which will act as the forum for sector stakeholders to develop the strategy. The Project Governance Board includes representatives from the Irish League of Credit Unions and the Credit Union Development Association, with the Chair of the Strategy Committee also a member, and the Credit Union Advisory Committee, the Central Bank of Ireland and the Department of Finance attending in a support capacity. The Strategy Committee will invite participation from the Irish League of Credit Unions, the Credit Union Development Association, the Credit Union Managers Association and the National Supervisors Forum, alongside credit union CEOs and board members. The Project Governance Board will begin work immediately on terms of reference, governance arrangements and a workplan for engagement with credit unions and their members. Once these elements are approved, the Strategy Committee will start strategy development; further details on scope, timelines and participation arrangements are to be communicated in due course.