Credit Union governance services: a chance to move beyond mere compliance

Statutory governance practices of credit unions are set out in the 220 provisions of Part IV of the Credit Union Act. Boards are expected to fully comply with these provisions and submit a signed statement to that effect to the Central Bank each year. In addition, the Board Oversight Committee’s newly defined role is to monitor the quality of the Board’s compliance to these provisions and report their findings to members. The Central Bank will itself also be monitoring the Board’s governance practices through its PRISM engagements as will ReBo in its assessments of the governance capacity of proposed mergers.

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Credit Union Governance Services

Governance Ireland specialises in assisting credit union Board’s meet such challenging scrutiny. We help Board’s move beyond mere compliance. We help enlightened leaders excel in governance best-practice thereby creating a reputation for their credit union that becomes respected among all stakeholders.

These leaders know that such respect will be critical to maintaining stakeholder confidence in the new world order that will emerge across the sector in the coming years.