Credit Union Reform – Public Consultation
The NI department of Economy have launched a public consultation on reforming and modernising the credit union legislation in Northern Ireland.
In NI There are an estimated 600,000 credit union members in total, with membership having increased by nearly 30% over the last 10 years.
Credit Unions have played a critical role within the NI economy offering safe and affordable financial services to our communities.
The Credit Union movement warmly welcomes the announcement by the Department for the Economy NI Minister Dr Caoimhe Archibald of the launch of a public consultation on reforming credit union legislation in Northern Ireland.
At the launch, the Minister reaffirmed the Executive’s commitment to a modern, dynamic credit union movement, one that continues to serve and support communities across Northern Ireland for generations to come.
According to Martin Fisher, Head of Northern Ireland at the ILCU, “We welcome this long-awaited consultation and the leadership shown by the Minister in taking forward reform. With the right legislative changes and supports from government, we believe credit unions in Northern Ireland can realise their full potential and deliver even greater impact for the communities they serve.”
The ILCU looks forward to collaborating with the Department for the Economy and sector stakeholders throughout the consultation and beyond.
Find out more about this reform consultation here: https://shorturl.at/QkBys