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Dublin: 12°C Friday 23 April 2021

Change of image for credit unions?

Survey shows most union members want to shake things up.

Time for a new profile?
Image: Wikimedia

A SURVEY OF IRISH credit unions shows that the vast majority – 90% –  of branches believe an image change is in order if they are to attract new customers.

The same percentage also said they also wanted a change of leadership in the sector.

The results of the independent survey were announced today at a credit union conference in Dublin, which was attended by members from all over Ireland.

Members also supported greater branch-to-branch cooperation, and even mergers. In May, the registrar of credit unions told an Oireachtas Committee that some credit uinions may not be able to continue as individual entities if they are facing serious funding issues.

90% of members also said they were optimistic about the future of the sector.

Last month, the Irish League of Credit Unions said it welcomed the appointment of independent consultants to review the sector’s financial standing, and told their members that their savings were safe.

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