There are very serious risks for the wider credit union movement in Ireland.  

Even the biggest, strongest and safest credit unions – positions earned and achieved from decades of hard work, prudent management and massive support from credit union wide members, will only be insulated from the risks for longer than most others.
It is a dastardly apparent corrupted situation that even the strongest credit unions can realistically expect to prosper in the light of substantial and in many cases, UNWARRANTED obstacles being placed in their way by legislators and regulators.  
Changes introduced in 2011 relate to how a credit union is governed. Most credit unions have embraced these changes without reservation as being essential to maintaining a safe and secure movement.  
In a more critically untoward way however, there have also been changes IMPOSED which leave credit unions at a DISTINCT DISADVANTAGE to other regulated lenders. Excessive restrictions enforced through regulation is like a #cancer – #KILLING #CreditUnions and is making it IMPOSSIBLE for even the biggest and strongest credit unions to function in a commercial manner.  
These unnecessary, questionable untoward restrictions are putting credit unions at a serious competitive disadvantage to #BANKS by forcibly making it harder for credit unions to take in and retain #DEPOSITS and preventing them from meeting credit union members’ demand for the type of loans they require, which many credit unions clearly have the capacity and ability to provide.  
The weaker credit unions will suffer the consequences first, but eventually the strongest will also suffer. This means that even the biggest and strongest credit unions will eventually have to succumb to the Banks. Bear in mind these actions are being taken by the people you have elected as politicians to represent you.  
All members of credit unions need to take serious urgent action to safeguard their future.
During 2016 two striking examples of how excessive, unjustified unfair regulation hindered the business of some bigger credit unions. This regulation effects growth potential and therefore credit union services for members in the coming years.
1. Firstly, some of the bigger credit unions are now able to offer #mortgages to their members. The members responses to the initiative was overwhelmingly positive. However it rapidly became apparent that, with the level of demand from the members, the credit union would require significantly more latitude from the #Regulator to meet the demand. It can be confirmed that application to the #Regulator to increase the mortgage lending to meet the demand from credit union members has gone unanswered. Are we surprised? The regulations as they stand means that credit unions can only lend out 15% of their total loan book for loans of greater than 10 years. This equates to just 5% of what some of the bigger credit unions have in shares. It is INCREDIBLE that these credit unions can in theory lend 95% of their shares in unsecured lending and only 5% secured on the members homes. This is also clearly counterintuitive when considered in the context of the HIGH DEMAND such credit unions have from their members, as well as the worsening housing crisis for credit union members. Discussions with the Central Bank are ongoing, with a view to having the unfair restrictions adjusted.
2. Secondly, almost all credit unions in Ireland are now restricted to a ceiling of €100,000 in deposits per member. This has been brought about to bring the limits in credit unions in line with the guarantees that apply. ALTHOUGH THE SAME GUARANTEES APPLY TO ALL FINANCIAL INSTITUTIONS, NO SUCH LIMITS OR RESTRICTIONS APPLY TO #BANKS. This is blatantly, indiscriminately, unfairly putting credit unions at a serious disadvantage, illegally, unjustly damaging the reputation of credit unions and effectively coercing and forcing credit union members to place their funds elsewhere.
3. So in essence, credit unions are not permitted to meet the demand for mortgage loans for their members. At the same time, credit unions are being restricted in the level of new funds they are permitted to accept from members.
4. These restrictions have been gradually introduced since 2011 at a time when the state held and still holds a declared interest in ensuring that Irish #Banks remain viable and profitable – YOU CAN DRAW YOUR OWN CONCLUSIONS FROM THIS. Unfortunately however, ONE THING IS VERY CLEAR, the future for Credit Unions in Ireland has never been more uncertain. The Director’s and leadership in credit unions are very deeply concerned about this and are engaging with various stakeholders in order to try and influence a positive future for credit unions.
The Irish central bank has nothing to be proud of and cannot be trusted. It is a pity they did not take required actions against the main banks when they should have.
People need to wake up and take strong action to protect their credit unions against the major untoward actions being taken against credit unions in favour of banks.
Anyone that can should collect and collate intelligence of all forms – digital, voice and paper based on all interactions between the Banks and any representative of governance in Ireland, legal firms, accountants and judiciary and be prepared to furnish same to any organisation that can take the necessary steps to bring obviously corrupted collusion between the Banks and the powers that be to justice.  

• Obvious nefariousness must never be allowed to succeed to the benefit of banks and their greedy shareholders.