CUDA are looking forward to your participation at the CUDA Annual Michael Joyce Memorial Golf Classic – Saturday 24th August 2019, at Limerick Golf Club, Ballyclough. Sincere thanks to those who have already registered their teams and for payments made to date
A requirement of the EU’s 4th AMLD was to set up a Beneficial Ownership Register (BOR) for corporate and legal entities. The BOR was expected to go live on the 20th June 2019 and has been delayed.
Positioning Credit Unions for the next 5 years and beyond poses big questions for credit unions, such as how do you plan for a world that is in constant flux? and how do you make a credit union fluid enough to respond to constant change and volatility? In this presentation the CUDA CEO breaks these big challenges down in manageable steps, the key is to start with a clear purpose which CUDA believes is “improving the financial, social and environmental well-being of credit union members and their communities”, then identify the strategic themes, the appropriate measures ad finally the enablers and initiatives. CUDA and the Solution Centre roadmap are helping credit unions to get their positioning right.
We were delighted to see the Solution Centre Manager Cathal Tyther on Six One & 9 o’clock news on Wednesday 19th June talking about ProEnergyHomes.ie.
With this project the Credit Union is enabling more home owners members to retrofit their homes and improve their BER rating. Participating members benefit from low rate finance, easy access to grant funding and project managed alterations.
If your Credit Union would like to know more about the ProEnergy initiative, please visit www.proenergyhomes.ie or contact firstname.lastname@example.org.
CUDA stated the current purpose of credit unions, and how the growing cost to serve, driven by increased regulatory related costs could prove detrimental to the system. The contradiction of all the stricter governance rules and new functions such as Risk, Compliance, Internal Audit, new F&P requirements, to name but a few, when we are permitted to do less business now than before these new requirements came in. Limits are so restrictive that we have situations where some credit unions are refusing good people good loans. Something has to change, we still hope that will come with enriched regulations following CP125 and other lenders who are creative in avoiding regulatory burdens, which may not be serving to protect the consumer. If their approach is not impacting on the consumer then perhaps such flexibility could be available to credit unions. We really need the alignment of credit unions evolving their business with proper regulatory requirements and limits.
CUDA was delighted to receive an invitation to present at the National Supervisor Forum conference at the Kemmy Business School, UL, on the Perspectives on the Role and Function of the Board & the Board Oversight Committee.
This one-day training event will primarily target Credit Union personnel with a responsibility for lending in their Credit Union.
A consultation paper is imminent for the resolution levy; the stabilisation fund is all put defunct, and now the Central Bank intends to increase the regulatory levy to 50% the cost to regulate the sector (currently at 9%).
The RTS is applicable from 14th September 2019. The EBA has issued further clarification on meeting compliance with Strong Customer Authentication.