Minister unveils plaque at North Midlands Credit Union

North Midlands Credit Union was delighted to welcome Minister of State at the Department of Finance with Responsibility for Financial Services, Credit Unions, and Insurance Jennifer Carroll MacNeill TD to the Mullingar Branch last week, Tuesday, October 17.

 The Bill is a very significant piece of legislation, developed in partnership with Government and the Credit Unions themselves. It increases flexibility around the common bond, opening opportunities to expand membership and services.
It creates further opportunities for credit unions to collaborate in order to compete more effectively in mortgage and SME lending. It will empower Boards to better manage their own Governance allow them to focus and concentrate on strategy and development. The two key amendments that Minister Carroll MacNeill brought before the Committee last week were to allow credit unions to take part in both loan participation and loan syndication; and to allow credit unions to refer members to other credit unions in all circumstances, regardless of whether or not the referring credit union provides the services the member is seeking. These are important enablers to help enhance member services, grow lending, and expand membership.

Minister Carroll MacNeill reiterated the importance for the credit union sector to take full advantage of these and all the opportunities the Bill facilitates to secure their future. To conclude her visit, Minister Carroll MacNeill unveiled a Plaque at the entrance to the Credit Union to mark 60 years of operations at North Midlands Credit Union.