Credit unions matter, providing essential lending and financial services to people and companies across Ireland. Credit unions are owned by their members, meaning benefits flow to people and communities rather than short-termist financial investors. A membership base of 3.4m and strong brand approval demonstrate people desire the ethical approach which credit unions champion.
Credit unions are evolving fast. They provide an ever-wider range of products from cards to digital banking, consumer to business loans. Most services are available digitally and new members can often borrow immediately.
Credit unions also face challenges. Adverse financial trends and competition for declining markets, now exacerbated by COVID-19, mean credit unions must evolve to become competitive and sustainable. Trust must be augmented with a modern business model based on capability and performance, requiring a more strategic approach to planning, delivery and investment.
CUDA’s vision for the sector is based on the Model Credit Union and supported by the services and solutions required to make this a reality. Start your journey today, the imperative for change has never been greater.