CUDA was asked by a number of credit unions to assist in the formal preparation of reciprocal arrangements with other credit unions. In particular credit unions were concerned that arrangements in place or in negotiation were not specifically tied down from a legal perspective.

In this regard, by clicking on this link, you will find a Reciprocal Arrangement Agreement.

This Agreement covers a variety of scenarios that you may face of the coming period, including

  • Where Credit Union A may have staff available to work but the credit union premises is temporarily closed down – in this situation the arrangement in place is to permit credit union staff operate from a neighbouring credit union (Credit Union B) in order to continue the provision of essential services such as the availability of incoming and emergency credit to members of Credit Union A.
  • Where Credit Union A may have premises, but no staff available to work. In this regard a neighbouring credit union (Credit Union B) makes available some of their staff to ensure the provision of essential services continue for members of Credit Union A. This is done on a secondment basis.
  • Other forms of operational support required by Credit Union A

In summary this Agreement, covers scenarios where the credit union has some, but not all functionalities.

 

If you have any questions in relation to this area please do contact us:

Kevin Johnson: (01) 4693102, (087) 2653066, kevin.johnson@cuda.ie;

Elaine Larke: (087) 2476346, elaine.larke@cuda.ie).