CUFocusSummer 2021 INTERVIEW WITH NEW ILCU PRESIDENT - Cyber security | AGM Reviews
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CUFocus
Summer 2021
INTERVIEW WITH NEW ILCU
PRESIDENT
Cyber security | AGM Reviews
Editorial 11 04 Interview with new ILCU President,
Helene McManus
Welcome to the Summer edition of CU Focus! An in-depth interview with newly elected ILCU
As we emerge from our longest lockdown to date, and hopefully our President, Helene McManus
last, there is a great sense of positivity among people as they begin
to venture out from their protective bubbles to socialise with their
families and friends. Many are planning staycations, while those 08 AGM 2020 and 2021
fortunate to have been fully vaccinated, are thinking of heading to
foreign shores. A review of the ILCU AGMs for 2020 and 2021
13 In this edition of CU Focus, we hear from newly elected ILCU
President Helene McManus on how she became involved with the 09 CU Learning and Development
credit union movement and what she hopes to achieve during her
Overview of courses and the new Volunteer
term of office. Helene is only the second woman to hold the office
of President following in the footsteps of the late Anne O’Byrne, who Recruitment and Retention Toolkit
served as President from 2005 to 2007. We wish Helene every
success for her Presidency.
We have a report on AGM 2021 which was addressed by Minister
11 Youth and Marketing Conference 2021
with Responsibility for Credit Unions, Sean Fleming. Minister We hear about this year’s Youth and Marketing
Fleming welcomed the many collaborative projects underway across Conference
the movement at present and emphasised that the realisation of
these projects would go some way to deliver Community Banking,
a topic which has been discussed in many fora and in the media 13 CU Greener Homes Scheme
recently, particularly in light of the withdrawal from the market of 17 All you need to know about the CU Greener
two banks and a major licenced moneylender in the past few Homes Scheme
months.
The 2021 Youth & Marketing Conference took place virtually on 21 17 RepTrak® 2021
22nd May with over 120 delegates in attendance. Using the theme
of ‘Resilience’ the delegates heard from a number of speakers on A review of the results of this year’s Reptrak®
how young people and credit unions overcame the challenges study
posed by the pandemic.
The recent cyber-attack on the HSE has focused all our minds on
19 CUCC Virtual Coffee Mornings
28 the importance of remaining vigilant to phishing emails and website
links which have the potential to access sensitive personal data such We hear all about the Virtual Coffee Mornings
as members’ names and account balances. The ILCU ICT organised by the Credit Union Compliance
Department has provided us with some useful tips for our staff and Centre
volunteers to safeguard against such attacks.
Finally, we want to take this opportunity to wish all our readers an
enjoyable and safe summer and we look forward to hopefully 21 ILCU Foundation
meeting many of you physically again in the months ahead. We An update from ILCU Foundation on all their
leave you with a quote by F. Scott Fitzgerald from The Great Gatsby,
recent activities
which aptly captures our feelings on our emergence from lockdown.
"And so with the sunshine and the great bursts of leaves growing on
Main Cover Image:
Helene McManus,
the trees, just as things grow in fast movies, I had that familiar 26 Right to disconnect
ILCU President conviction that life was beginning over again with the summer."
HR review of Code of Practice for Employers and
Employees on the Right to Disconnect which
Editorial Committee: Helene McManus, Paul Bailey
ILCU ISSN 1649-377X. ILCU Board: Helene McManus, President, Michael Byrne, Vice-President, Margaret Heffernan, Treasurer, Martin Busch, Christopher Collins, Martin Dolan, Vanessa Foran, Joe Mulvey, came into force on 1 April 2021
Charles Murphy, Eamonn Sharkey, Patrick Sheehan, Gerry Thompson, Jim Toner. Supervisory Committee: Michael Cogley, Patricia Doherty, Seamus Kilgannon.
Contributions may be submitted via email to ilcucommunications@creditunion.ie.
Design & Print: Outburst Design. Please mark submissions for the attention of the editor, CU Focus Communications Department. The views expressed in this issue of the CU Focus are not necessarily the views
of the Irish League of Credit Unions. Advertising: The placement of an advert does not imply endorsement of the product or service advertised, either by the magazine or its publisher. The CU Focus will not 28 CU Stories
knowingly carry false or misleading advertising. Articles The CU Focus would like to hear your news and views. Send in any newsworthy stories or photos. The CU Focus tries to publish all appropriate information
submitted, but may be precluded by space constraints.
Published By Irish League of Credit Unions 33 – 41 Lower Mount Street Dublin 2 Tel: 353 (0)1 614 6700 Fax: 353 (0)1 614 6701 Email: info@creditunion.ie Website: www.creditunion.ie 30 Stories from credit unions around the island of
Ireland
2 :: CU FOCUS SUMMER 21 CU FOCUS SUMMER 21 :: 3
CU Focus Interview
Helene McManus
ILCU President
Can you tell us a bit about
yourself?
Born into the Murray family in
Snugboro, Ballyconnell, Co Cavan, I
am one of a family of nine, 6 boys and
elected board member! Donal
McCarthy (Founder member) was the
Manager at the time and he assured
me it would not take up too much of
my time – he did say that with a smile
several roles at Chapter level,
including that of Secretary and Chair.
Inevitably, when attending the
educational seminars, I came into
contact with members of the League
“
I realised very quickly that I
needed to get involved with
other credit unions to learn
3 girls. Sadly, three of my brothers as I recall. I served in every position Board and Staff; I would also have from the collective.
have passed. Family life was starting off as Treasurer and I am still attended the ILCU AGMs which are a
interesting as we always had relations, there serving on the Board as Vice huge learning platform and my Chapter 25 was an
neighbours and friends calling and Chair. Anne Tynan is now the Chair interest in the Movement continued to
while there was lots of playing, talking and Mike Cosgrove is the CEO. I work grow. I enjoyed that engagement and
excellent learning
and laughing, there was always work with the Health Service Executive now after several years of involvement and ground
to be done! It was like living in a small and am also a member of the Health with encouragement from a colleague
motel at times! Philip (also from Service Staffs Credit Union. Every and friend, Margaret Ryan, RIP, from
Ballyconnell!) and I got married in the credit union board, as the governing Kilnamanagh Credit Union, I decided
early eighties and we happily have body and in that capacity, has to be over four years ago to run for election
four adult children, Darran, Ciara, acutely aware of its responsibilities onto the ILCU Board. That was in
Conor and Declan. The family has with regard to legislation and 2017 and I was lucky enough to be
grown to include our daughter in law, regulation, needs to be very well elected that year. The past four years
Emily and son in law, Jason and our informed and partake in continuous of working with the ILCU Board,
two treasured and wonderful professional development. While this supervisors and staff to add value for
grandchildren, Fionn and Méibh. is a volunteer role, it necessitates our member credit unions has been a
skilled and competent people being in challenge in that our credit unions are
How did you get involved with the situ swamped with savings, are fighting an
credit union movement? uphill battle to get loans out, have very
My first contact with credit unions was Prior to becoming president, you little return on investments and then
when I started to work for the Housing were a member of the ILCU Board there is the imposition of negative
Department in Dublin Corporation for a number of years. What interest rates on bank deposits. Much
(now Dublin City Council) in the late initially motivated you to get to do.
1970s. It could have been named the involved?
housing credit union as everybody When I became a member of the
What was your motivation to run
working there seemed to be involved, Board of Kilcloon CU, I learned that for President?
it being volunteer run. I became a our credit union was a member of I served for two years as Treasurer and
member and would help, as a Chapter 25 of the Irish League of I was also appointed as a member of
volunteer, counting cash lodged on Credit Unions. The Manager and the Management Committee that
pay day. John Kelly was heavily members of the Board attended the served from 2019 to 2021. This gave
involved then and I learned from him; monthly Chapter meetings and also me a voice at Central Bank,
he later became the Manager of that various training sessions. I realised Department of Finance and other high
credit union. Sadly, John passed away very quickly that I needed to get level meeting tables as well as giving
some years ago. When Philip and I got involved with other credit unions to real insight as to their thinking with
married we came to live in Kilcock in learn from the collective. Chapter 25 regard to credit unions and their
Co Kildare and after some years I got was an excellent learning ground as its operations. I manage and lead on
involved in Kilcloon & District Credit Education Committee arranged work initiatives in my daily life and am
Union which is based in The Square, informative presentations and a great believer in planning for the
Kilcock. I remember attending an weekend seminars – everything was future and making sure
AGM in the late nineties and left as an always very well organised. I served in implementation follows. During Gerry
4 :: CU FOCUS SUMMER 21 CU FOCUS SUMMER 21 :: 5
“
Thompson’s presidency, I was part of together & leading to Research,
a group put in place to develop a Refine, Reposition. It is a priority to
strategic plan for the ILCU. This maintain cooperation with ENCU
group comprised of two each of members to both bring more credit
board members, credit union chairs, I believe in leading through union awareness to the EU level but
SMT members and credit union CEOs also to influence European financial
and all worked well together; the Plan
positive influence and regulations in such a way as to allow
was adopted by the Board back in building relationships as credit unions to continue to operate
2019 and very shortly thereafter went and grow in Europe. And likewise to
to the first phase of implementation. I rely on the personal work together with WOCCU, who act
This operational implementation as the leading voice for advocacy and
continues and, while nothing is set in
rather than positional governance on behalf of the
stone and the focus can change, my power to achieve results. worldwide credit union community.
belief is that follow through is
important. The five goals originally set What do you see as the biggest
continue in place and the principle challenges and biggest
in the not too distant future. opportunities for the credit union
position of President lends
governance weight to support this
movement in the years ahead?
What style of leadership will you Certainly, the things I mentioned CEO, Mike Cosgrave (at back) and fellow staff members of Kilcloon Credit Union, outside their offices in Kilcock,
work. Succession planning with are delighted at the achievement of Board Member, Helene McManus, on her election as ILCU President at the
bring to the role of ILCU earlier, (loan issuance, savings
regard to principal officer positions, President? 2021 ILCU AGM.
growth, exceedingly low investment
while subject to the voting outcome, Well, leadership always involves a two interest rates and negative bank
is nonetheless a consideration based way process with other people and deposit rates), all add up to being a
on established working relationships clearly, in the first instance, that will massive challenge for all our credit
and shared focus for the future. I am be with the Board members on an development. approach to capital which still allows programme rather we are a social
unions regardless of their size. We
confident, working with all board ongoing basis and similarly but on a We are all well used to hearing the for strong capital and solvency ratios. movement with a financial mission.
have to take stock and reposition by
members, that I can lead on bringing more frequent basis with the Vice politicians talking about the In the Republic of Ireland, the We are more than capable of
adding to its product and service
about outcomes identified by the President, Michael Byrne, the importance of our credit unions and Registry of Credit Unions, which is delivering on mortgages, SME
range so that credit unions can grow
affiliated credit unions as necessary Treasurer, Margaret Heffernan and Ed how trusted and valuable they are to part of the Central Bank of Ireland, is lending, investing in social housing
their income in a sustainable way.
for them to remain viable and Farrell, CEO. I believe in leading our communities. Now that they have responsible for the registration, and more. Working together, we can
This is where the ILCU can assist
operating in their communities. through positive influence and committed to specific actions, I look regulation and supervision of credit change the template for credit unions
through its research and
building relationships as I rely on the forward to them finally walking the unions. The RCU reserve requirement for the twenty first century. And that
How important is this role for development service to benefit the
personal rather than positional power walk. The adage “if it is not for credit unions is 10% of total is what we must do.
you? collective. Individual credit unions do
to achieve results. Being credible and documented, it didn’t happen” no assets. In 2012 and again in 2016,
This role is of paramount importance not have inhouse R&D resources but
empathetic are there on my longer applies and the reality is there both the Commission on Credit Any final thoughts that you would
to me as it brings with it the fiduciary do have a centralised service to assist like to share with CU Focus
leadership style list along with being is nowhere for Government to hide on Unions and the Credit Union Advisory
duty to ensure our affiliated credit them in much needed service readers?
passionate about credit unions and this; those commitments have to be Committee respectively
unions are assisted in their goals development. I would like to commend all our credit
their value to society. Every board realised as soon as is possible. recommended a tiered regulatory
towards ensuring a sustainable future In the ROI, we now have a Minister unions for their remarkable work
director has a particular leadership approach but nearly a decade on
that will continue to enhance the lives of State at the Department of particularly since the onset of the
approach but more importantly is the What are your views on the nothing has changed. It is clear that
of their members. It’s a great honour Finance, Minister Fleming, appointed current regulatory environment in pandemic. They have ensured their
outcome forthcoming from that regulation remains disproportionate in
to have been elected to this position as with specific responsibility for credit which credit unions operate in staff and members were kept safe
leadership role. The key here is ROI which is disadvantageous as it
President of the Irish League of Credit unions. The League’s manifesto, ROI and NI? whilst they continued to provide a full
supporting credit unions to remain in does not take into account the size or
Unions that represents the majority of (developed in advance of the last Credit Unions throughout the island service on site and all this was done
our communities across the 32 scale of the individual credit union’s
credit unions on the Island of Ireland. General Election and entitled “Credit have shown that they have no in a very professional manner and in
counties for the long term. operations. This is an issue that
Union Vision 2020”) identified eight problem whatsoever with regulation; it a welcoming and good humoured
requires a shift in the sands and one
What are you most looking strategic priorities and some specific is absolutely necessary to protect way. The measure of your social
What are your main areas of that credit unions are focused on as
forward to as the new president? commitments were included in the members’ funds. The method of how impact on your communities is being
priority for your term as needing to be addressed. I agree with
The opportunity to work with and Programme for Government: a regulatory regime is applied is seen researched at the moment and
President? those views.
listen to all of our credit unions and as the problem. In Northern Ireland perhaps in the near future that can
Working together shows a unity of
to do the right things on their behalf. 1) Review the Policy Framework credit unions are authorised by the What message would you like to be quantified and included in your
purpose and that approach will make
The League exists to benefit its within which Credit Unions operate Prudential Regulation Authority (PRA) give credit unions? end of year reports. The credit union
the difference. The affiliate Credit
affiliated credit unions and its 2) Enable and support the Credit and regulated by both the Financial Collectively we are well aware of the difference is something to be proud
Unions must be supported to be
representational presence has to be Union movement to grow Conduct Authority and by the PRA. need for a fundamental change in of. I intend to focus on the issues that
future ready and it is important to
relevant and in step with the credit 3) Support Credit Unions in the The PRA have finalised a review of how our credit unions are legislated you identified as needing to be
translate the credit union difference
unions’ needs. I really am looking expansion of services, to the capital regime for credit unions for. We are not a financial institution actioned and I will work to the best of
into tangible benefits for the
forward to meeting up with members encourage community which resulted in a graduated with a corporate social responsibility my ability on your behalf. Keep safe.
(potential) members. Working
6 :: CU FOCUS SUMMER 21 CU FOCUS SUMMER 21 :: 7
ILCU AGM
AGM 2020 AND 2021
ILCU AGM 2020 Minister Fleming said, “Shared service number of very significant operational
Following the unavoidable postponement of structures and cooperation between credit challenges positively and, in most cases,
the 2020 AGM last year due to COVID-19, the unions can reduce costs, provide scale and effectively over the past year, but now is not
ILCU’s 2020 AGM was held by electronic help deliver new services to members which the time to step back. It's absolutely
means on 20 March 2021.
Resolutions passed at AGM 2020 included
may not be possible for individual credit
unions to provide on their own.”
essential that credit unions continue to build
and maintain good governance arrangements
and that they regularly and critically review
Cyber Security risks and attacks
approval and adoption of the Treasurer’s He continued “As such, I welcome and
support the many collaborative initiatives their key financial metrics, particularly
report for 2019, approval and adoption of
underway at present. By realising these around credit quality.”
the Rules of the Stabilisation Protection The success of the credit union reputational harm as a result of a IT security risks are ever changing
Scheme and removal of the requirement for projects and delivering these services to During the AGM, credit unions also heard movement is based on positive cyber-attack or breach within a and now is opportune time to
credit unions to complete and return the your members and communities, you will from Brian Branch, President and CEO of relationships and trust. In network. In truth, cyber security is consider cyber security as a
deliver much of what we describe as WOCCU (World Council of Credit Unions). recognising that a credit union’s everyone’s responsibility as an mandatory subject for your training
Return of Officers form to the Irish League of
Community Banking.” AGM Elections reputation is one of its most valuable attack on a credit union has the policies for both staff and
Credit Unions. A number of amendments to
assets we should remain aware of potential for significant financial volunteers. With this in mind we
the Standard Rules for Credit Unions in ROI The Minister concluded his address by At the AGM, Helene McManus of Kilcloon &
cyber risks that have the potential to impacts. have a variety of training solutions
and NI were also carried. saying “While there are challenges facing District Credit Union was elected as the new
critically interrupt operations and to meet your needs.
the Credit Union movement the strengths of ILCU President. Helene is only the second
Full details are published in the affiliate area undermine a positive member
the movement cannot be underestimated. woman President in the sixty one year history experience.
of the website on the ILCU news section.
Credit unions have the capacity to help of the Irish League of Credit Unions, the first
ILCU AGM 2021 communities all over the country confront the being Anne O’Byrne in 2005. The full fallout of the recent cyber-
Michael Byrne from Core Credit Union was attack on the HSE will not be known computer internet
"Collaboration and co-operation are key challenges that are facing them.”
elected to the position of ILCU Vice- for some time. The realisation is
for credit unions to maximise future Patrick Casey, Central Bank that the attack was “extensive” and
potential and deliver on Community President. Margaret Heffernan was confirmed
Registrar of Credit Unions as Treasurer and Seamus Kilgannon was
has “real-world” consequences for
Banking” - Minister Seán Fleming tells Also addressing the meeting was Patrick patients as described by Minister
elected to serve on the Supervisory for Health Stephen Donnelly,
Irish League of Credit Unions AGM 2021 Casey, Central Bank Registrar of Credit
Committee (term 2021-2024). meaning some 2,000 IT patient- systems email
Unions, who referred to the current
Following her election, President Helene facing systems are being cleared
Over 190 credit unions attended the Annual challenges faced by credit unions. Mr Casey
McManus said “I am both honoured and with approximately 80,000
General Meeting of the Irish League of Credit said, “Your real challenges are commercial
humbled to be elected President of the Irish computers cleaned and reinstalled
Unions which was held virtually on Saturday, in nature, and they're about finding ways to with software.
League of Credit Unions. This is a critical
lend to your more economically active training
24th April. time for our movement particularly with the protection
members.” Cyber security risk is the probability
Address by Seán Fleming, Minister withdrawal of the pillar banks from our of exposure, loss of critical assets
of State Department of Finance Mr Casey continued, “Lending to more communities. Credit unions, which are and sensitive information, or
Addressing the meeting, the Minister said economically active members offers a path founded in communities, are here to stay,
to sustainability. It puts member savings to a and will continue to provide financial
that the Government recognises the important
productive use, aligned to the objects of services to people in towns and villages
role played in society by the Credit Union
credit unions. It will ensure an ongoing across the island in the absence of the
movement as volunteer no-for-profit co-
funding need for growth in savings, and it banks.”
operative financial institutions.
The Minister also acknowledged the impact
will help to mitigate the imbalance between
savings and loans.”
Continuing, Ms McManus said, “The Irish
League of Credit Unions is the ultimate
Cyber Security Courses
of the Covid-19 pandemic has had;
Delegates also heard from Chris Donald from collaborative model and we will continue to
“Credit unions have been affected by the Cyber Security & Data Protection for Credit Union
the Prudential Regulation Authority, the UK work on behalf of our member credit unions
pandemic in terms of muted demand for Officers aimed at all those in the credit union from the
based Regulator of Northern Ireland credit to assist them in reaching their full potential
lending and rising savings, but you have front line to the board. This course provides credit
unions, who outlined how crucial the credit on behalf of their members. I look forward to union staff with an overview of both their individual and
played an important role for your members as union sector is to local communities in working with the regulatory authorities in the credit union’s obligations in relation to managing
an “essential service”. Northern Ireland. Commenting on the positive Northern Ireland and in the Republic of cyber security and the protection of member data.
The Minister told delegates that aspects of credit unions, including financial Ireland, on behalf of ILCU members, to
collaboration and co-operation are key for reserves in terms of regulatory capital, and ensure that a pragmatic, yet robust Cyber Risk & Data Protection - Oversight & Management
credit unions to maximise their future reserves of members goodwill and loyalty, regulatory regime, appropriate to credit course for those managing or overseeing cyber risk in
potential. Mr Donald said, “Credit unions have met a unions, is maintained.” their credit unions, including all those on management
teams, including compliance and risk officers, the
Board and BOC
Motions passed at AGM 2021 eLearning Cyber Security for Credit Unions develops
awareness of the risk of cyber-attacks and the
Resolutions passed at AGM 2021 included those to set the affiliation fees to the ILCU and the funding contribution appropriate cyber security measures and explores
to the National Advertising Campaign for a period of two years. responsibilities to manage cyber risk relevant to the
There were a number of amendments to the Standard Rules for Credit Unions including notice of general meetings. Board, the Manager/CEO and the Risk Management
Full details are published in the affiliate area of the website on the ILCU news section. Officer.
8 :: CU FOCUS SUMMER 21 CU FOCUS SUMMER 21 :: 9
Volunteer Recruitment and Retention Toolkit Launched
The all new Volunteer management of the on boarding and retention processes but all
YOUTH AND MARKETING
Recruitment and Retention
Toolkit was launched at the
ILCU Chairs’ Forum in June. It
is now available for download
process of new volunteers and
introduces the concept of
Volunteer Experience
measurement to support
interconnected with common
themes.
Volunteer Recruitment and
CONFERENCE 2021
from the Learning and retention. Retention Chapters
Development webpage in the 1. Research & Demographics For the very first time, the ILCU Youth and
affiliate area of Realising the time constraints 2. Identifying Potential
we all face at the moment, we
Marketing Conference was held online on
www.creditunion.ie Volunteers
have included useful icons 3. Recruitment Stages – Early the 22nd May. Over 120 delegates attended
Together with its large catalogue throughout which identify:
of supporting documents the Checklists, Top Tips and Key
- Medium – Late the online conference on the day. After a
4. First 60 Days
toolkit was developed as part of Actions and allow you to easily 5. Volunteer Experience – year of incredible challenges, the key theme
the ILCU Strategic Plan 2020- find and read key points. As an Recognition and Retention of this year’s Youth and Marketing
2025. As a resource it is packed overview the toolkit has 8 6. Marketing and Promotion
with useful data and new ideas chapters, each addressing a 7. Case Studies Conference was Resilience.
for volunteer marketing the separate area of the recruitment 8. Support Documents
The conference looked at how Irish at Gen Z and the key takeaways to
young people between 16-24 and 25- developing a TikTok campaign
Employing Storytelling for Marketing 34 (Gen Z and Millennials) and Credit Kids These Days – Taking the
Extension of MCC Qualifications in
and Volunteer Recruitment Unions, have overcome changes and temperature of Gen Z was the title of
the Credit Union Sector challenges in the past year – while Shane O’Leary’s presentation. Shane
giving ideas on how to better connect is a Media and Performance lead at
The Central Bank recently sent a Minimum with a younger audience. The Rothco Accenture Interactive and he
Competency Code (MCC) Questionnaire to credit conference strives to provide insights examined in detail the mindset,
unions in relation to recognised qualifications into how credit unions can connect media landscape, marketing
undertaken by credit union officers. This was a with young people, both as members examples and meaning for Gen Z
clear indication of the Central Bank’s intention to and volunteers. Attendees had the today. Shane gave some very
extend the MCC requirements, which currently opportunity to hear about the some informative statistics and figures and
apply to Insurances and Mortgages in credit unions. very practical and interesting also gave tips of how to use these
It is likely that MCC product categories extend to the marketing trends and initiatives, and insights and what organisations
“core” credit union activity of Lending. received some practical advice and should be doing in terms of media
For any MCC activity where “advice” is provided tips on putting them into practice. and goal planning.
to your member, where a loan is “arranged” or
where a complaint in relation to a loan is Key Presentations Examples of resilience – case
“adjudicated” upon, the expectation will be that The conference first heard from and how the COVID-19 has affected studies
Storytelling is a unique part of Irish culture and heritage and those engaged in such activity are competent and Trisha Lewis who is a chef, their mental health. Ian spoke about The second half of the conference
is a valuable way to demonstrate the values and impact of capable to do so. It is likely that these activities will Instagram star and motivational the mission and values of Spunout.ie dealt with examples of case studies
your credit unions. This course builds on basic marketing become “controlled functions” under the Fitness & speaker Trisha spoke about her and the important role research and and how credit unions have
awareness to employ a framework enabling credit unions to Probity regime and those engaged in these activities inspiring life story while giving advice social media platforms play in overcome the challenges they’ve
use their communication strengths for marketing and will be required to hold and maintain a recognised on how to stay positive and healthy. accessing their services. faced over the past year to reach out
volunteer recruitment suitable for in-person events and social MCC qualification. Cormac McCann from Pluto
Trisha spoke about her and engage with young people in a
media. Designed alongside the Volunteer Recruitment and It is likely that the current, widely held MCC Agency provided an overview of the
determination to show people that no meaningful way.
Retention Toolkit the course will demonstrate how to use tools qualifications in the sector, such as ILCU’s agency’s #100Consent TikTok
to segment demographics and market your credit union. matter how bad things get, you can James Liston, Business
Pathways Diploma (CU Ops.), CUA and QFA will all turn them around, reset and start campaign with the Dublin Rape Development Manager with Capitol
The course is suited to all credit union officers involved in be recognised as meeting this new lending MCC again. Trisha set up an Instagram Crisis Centre. Cormac spoke about Credit Union presented their case
volunteer recruitment and marketing. It will introduce the new requirement. For those without recognised account to document her weight loss how the campaign used TikTok study on how they managed to
Volunteer Recruitment and Retention Toolkit as a resource for qualifications who will remain engaged in MCC journey and has almost 200,000 creators to publicise their campaign engage with colleges and third level
credit union marketing and volunteer recruitment. It enables activities it is timely to enrol on a relevant course. followers. She spoke about how she the important role research played to increase their membership and
the linking of the Credit Union Volunteer Strategic Marketing Learning & Development, in partnership with when they were developing the
engages with her audience through strengthen their ties with these
Cycle with Strategic Objectives of your credit union while National College of Ireland, is providing the campaign and the results and
her fun online personality and how members. James spoke how
identifying different demographic groups for potential opportunity for officers to complete an MCC outcomes. The #100Consent
volunteers. she focuses on discipline and important it was to make the credit
recognised, Level 7 lending designation this consistency to reach her goals. campaign gained phenomenal union relevant, the background and
The UPRI³SE storytelling framework, which we have developed Autumn. This course will provide the designation AP Ian Power CEO of Spunout.ie gave results and Cormac spoke about the results of their projects and key tips
for the credit union movement, aligns with the strong positive (Loans). an insight into the increasing factors that should be considered and learning that other credit unions
story credit unions have to tell to inspire potential volunteers challenges facing Irish youth today when creating a campaign targeted can use.
to get involved and the central tool used on the course.
10 :: CU FOCUS SUMMER 21 CU FOCUS SUMMER 21 :: 11
Jane Daly from the ILCU Communications Department
outlined how crafting the credit union story has been effectively
used to raise its profile on social media. Jane gave different
CU GREENER HOMES SCHEME
examples of social media campaigns that have used its most
valuable assets – its members, volunteers and staff. A one stop shop for home energy efficiency upgrades
Carolann Doherty from Derry Credit Union spoke about how
they have used the staff at Derry Credit Union as ambassadors Motivated by comfort and warmth as well as energy savings, homeowners across Ireland are
to great effect. She outlined the key actions and learnings they looking to invest in home improvements in 2021. In order to help people to upgrade their
have taken from the initiative and how effective it has been to
homes, the Irish League of Credit Unions (ILCU) has collaborated with Energia and
get their own stories across on their social media channels.
A unique biodiversity community project was the subject was House2Home to launch the CU Greener Homes scheme (CUGH) which delivers a one-stop
the subject of St. Michael's Credit Union Marketing Manager, shop solution for all home energy efficiency upgrades, enabling credit unions to focus on
Luke Casey. Their Biodiversity Initiative, brought together both providing finance solutions to their members.
members of the credit union and community groups to address
a community concern. Luke explained how they implemented
the rewilding project by enlisting the help of a local biodiversity CU Greener Homes provides access to up to €5,000 on home improvements considering future home improvements
expert, identified areas that needed to be rewilded and all of the information and supports with 26% planning to spend in excess to be more climate friendly. In addition,
approached other community groups in the area to get involved needed to carry out home energy of €10,000. This indicates a wide 77% think a better BER or energy
and the key benefits of getting the project implemented. efficiency upgrades, including the range of improvements are being rating for their own home would
A key takeaway from these campaigns has been that using initial assessment, the grant application considered and a significant proportion positively impact the environment.
the people you have to get the people you want. process, the finance required and the of Irish households who are prepared
The National Youth Committee and the ILCU Communications project management. to make a large investment in long- - Barriers to improvement
Department would like to thank all the presenters and attendees term upgrades. While there is clearly a desire among
who contributed to a successful online conference. A recording Research Irish households to undertake
fo the conference can be accessed on the ILCU affiliate area of As part of the nationwide launch of CU - Access to finance improvements to maximise the energy
creditunion.ie Greener Homes in April, insights Of those who have recently carried out efficiency of their homes, the research
research was carried out examining home improvement upgrades, 60% highlights a lack of knowledge
previous home improvements, future primarily used their savings to pay for regarding suitable green home energy
home improvements, and the the work, with 21% borrowing money solutions and how to get started on this
importance of green energy. to get work complete. Of this borrowing type of project. Many (58%) simply do
The research found that comfort and cohort, 68% turned to their local credit not know where to start with a home
warmth (68%) and saving money on union with just 23% using a bank. energy efficiency upgrade while almost
energy (63%) are the two main drivers One third (33%) of respondents who two thirds (60%) of respondents were
of future Irish home improvements. are planning future home unsure of what supports and grants are
Meanwhile the kitchen (56%) is the improvements said they will borrow available. 59% said they would carry
room most people would like to from a credit union, compared to only out more green home improvements if
improve, with the exterior of the house 10% who plan to take a bank loan. the process appeared to be more
(44%) and living room (41%) also straight forward, indicating a desire to
popular. - Carbon Footprint and Sustainable upgrade but uncertainty on how to
When it comes to preferred home Homes realise this ambition.
improvements, insulation is the first 57% of respondents feel Ireland isn’t
choice for many - 34% would like to fit doing enough to reduce our carbon
exterior wall insulation, 33% would opt footprint. The research also shows that
for attic insulation while 29% would issues around energy efficiency and
favour extra window glazing. The climate change are prevalent in
research found that 64% would spend people’s thoughts, with 43%
12 :: CU FOCUS SUMMER 21 CU FOCUS SUMMER 21 :: 13
About CU Greener Homes
Grants and supports of up to 40%
are available for eligible work as part
of this scheme. The Sustainable
Energy Authority of Ireland (SEAI)
provide grants of up to 35%
depending on the age of the home
and the type of energy efficiency
improvements carried out. In
addition, as part of this initiative,
Energia will provide additional
support of up to 5%, subject to
terms, conditions and eligibility
criteria. Homeowners can apply to a
participating Credit Union for a loan
should they need assistance with the
remaining balance of the energy
THE FUTURE OF
upgrade.
A key feature of the CU Greener
ELECTRONIC PAYMENTS
Homes website is the Energy
efficiency calculator. The calculator
enables people to find out the cost of
proposed home energy upgrades, the
grant support which may be
available, the cost of credit union Over 150 credit unions logged into CUSOP’s Credit
finance and the impact of the work
on the energy efficiency of your Union User group webinar on 12 May.
home.
The application process is easy
and straightforward and can be done
through the cugreeenerhome.ie CUSOP (Payments) DAC is the in ROI and NI are already benefiting payments to be made instantly to
website. Participating credit unions largest payment service provider to from the increase of transaction existing IBAN accounts. Instantly, in
offer the lowest interest rates on work over 180 credit unions on the island volumes with price reductions this context means from account to
which has the biggest overall impact of Ireland. introduced in ROI and NI from 1 account within 10 seconds – 24
on the home’s energy rating. March 2021. Dermot also hours a day and 365 days a year.
Approved retrofit work which results Participants logged into the first highlighted the introduction of the The European Commission is keen
in the home achieving a Building virtual User Group event, bringing Direct Debit service in Northern to have widespread adoption and is
Energy Rating (BER) of A3 or better updates and insights to partnering Ireland as one of the significant currently consulting with countries
will attract a loan interest rate of credit unions. milestones achieved in 2020. about the likely timescale for its
4.9% APR* Terms, conditions and implementation of SCT Inst.
eligibility criteria apply. Noel Minogue, Chair of the CUSOP Dermot provided an update on the
Trustees, updated on the role of the development and roll out of the new Diarmuid also discussed the likely
trustees pointing out that they are MYCU Debit Mastercard ® and timeframes and the implications of
the legal owners of the shares on Current Account service. The SCT Inst for credit unions in Ireland,
Further information on the CU Greener Home Scheme is available at https://cugreenerhomes.ie/. exclusive MYCU financial model indicating that CUSOP will have SCT
behalf of the beneficiary Credit
* A €30,000 home improvement loan over 10 years at a 4.79% interest rate (4.9% APR) has 120 monthly repayments of enables credit unions to develop Inst available but the timing of the
€315.13. The total amount repayable is €37,815.
Unions. Noel highlighted their role in
commencing recruitment of a new their business case with variable roll-out will be subject to credit
Credit Unions are regulated by the Central Bank of Ireland. pricing parameters tailored to their union priorities and the Irish banks
director for the Board to replace
retiring director Noel Madden. credit union. The service offers decision on an implementation date.
credit union members a new option Barry Manning, Head of
CUSOP CEO, Dermot Griffin and alternative to traditional banks. Transactional Banking at Danske
welcomed delegates and gave an Bank joined the webinar and spoke
overview on CUSOPs progress and Lead Consultant for Product of Danske Bank’s experience with
future outlook for 2021 and beyond. Enhancements and Project Delivery, SCT Inst to date and the payments
CUSOP celebrated a key milestone Diarmuid Hanrahan gave his transformation in the Nordics.
of achieving a record level of annual perspective on the topic of SEPA
member transactions of over 20 Instant Credit Transfers (SCT Inst.) A financials update on CUSOP was
million in 2020, with values SCT Inst is a relatively new presented by Simon Ahern, Chief
exceeding €5 billion processed on development across the euro zone Financial Officer, who drew attention
their platform. CUSOP credit unions which enables credit transfer to the continued strong upward
14 :: CU FOCUS SUMMER 21 CU FOCUS SUMMER 21 :: 15
momentum in transaction numbers
RepTrak® 2021 Study Finds Credit
and value in 2020 reflecting the
positive impact of a higher number
of credit unions, combined with
Unions are Ireland’s Most Respected
strong growth in payments activity
levels generally, due in part to the
Covid pandemic. He also highlighted
Provider of Financial Services
CUSOPs strong capital position as Credit unions have once again been
an important factor in providing recognised as the most highly regarded
certainty to Credit Unions in an financial services organisation, according
environment of continuous technical the Ireland RepTrak® study. The Ireland
advancement. RepTrak® 2021 study is based on a
survey of over 6,500 members of the
Concluding the session, Dermot public which gathered data on the levels
Hudson – Head of Risk and of trust, respect, admiration and esteem
Compliance at CUSOP, provided an they have for organisations in Ireland.
overview of recent Irish and Credit Unions were placed first in
European legal and regulatory Credit unions who would like to find Relationship Management Governance and in Citizenship – two
developments with regards to out more about the topics discussed jchapman@cusop.ie important drivers of reputation. Overall,
money laundering as well as an on the webinar or more about the 087 142 5899. credit unions took second place in the study
update on the latest fraud services offered by CUSOP are with a score of 84.9. Bord Bia took the top
techniques and how to protect encouraged to visit www.cusop.ie or Follow our LinkedIn page for spot while An Post ranked in third place.
against them. contact John Chapman, updates and insights. Credit unions, as the cornerstone of local
communities, were recognised as being
friendly, genuine, down to earth, sincere
and straightforward, in the analysis of brand
personality traits that most closely correlated
How SCT Inst Works with reputation, amongst the 100
organisations that were studied.
Speaking about the achievement, ILCU
SCT Institution SCT Institution SCT Institution Make Funds President, Helene McManus said: “We are
Instruction Instruction Instruction Instantly Available delighted to celebrate this good news and
congratulate Irish credit unions for their
consistently high performance in the
RepTrak survey. It really is a fantastic
achievement to consistently remain in the
top two for the past three years. It has been
an incredibly difficult year for all
organisations and businesses. Credit unions
1 2 3 5 all around the country have remained a
cornerstone of their local communities and
continue to go above and beyond for their
EBA members.”
Member Clearing Beneficiary
7 6 4
Confirmation Confirmation
SCT Inst message if SCT message if SCT
transaction was Inst transaction Inst tansaction
not successful successful or successful or
not not
16 :: CU FOCUS SUMMER 21 CU FOCUS SUMMER 21 :: 17
CUCC Host AML Virtual
#RespectThePressure Coffee Mornings
As the COVID-19 restrictions The Virtual Coffee Mornings have been
greeted with great positivity and
have meant that CUCC enthusiasm by our attendees. For 2021 we
subscribers can no longer meet changed the format so that rather than
up in our usual Working Groups focussing on geographic areas, we issued a
All Vehicle Drivers are urged to regularly – the CUCC team had to put our series of dates and invited those who
wished to attend to let us know. We
check tyre pressures to ensure safety. thinking caps on to fill the void! increased the numbers invited to each
• Under or over-inflated tyres contribute to One of the big benefits of our coffee morning, with a maximum number
fatalities regular Working Groups is the of places available.
• Poorly inflated tyres lead to poor performance opportunity to meet up with We also conducted a survey amongst our
and compromise safety other compliance and risk subscribers to assess whether there was an
• Incorrect tyre pressure is subject to penalty interest in expanding the virtual coffee
points
management officers and morning concept to include discussions on
• Visit ITIA member dealers for a FREE tyre discuss matters of mutual additional topics. The responses indicate a
check: www.itia.ie interest. We were keen to definite appetite to expand the discussions
to areas such as:
continue to facilitate such
networking if we could. • General Compliance Discussion (94%)
Several credit unions recently took McKenna, Business Development commission of the offence, or four • Online Onboarding (81%)
part in the The Irish Tyre Industry Manager, Monaghan Credit Union penalty points following conviction in Following feedback from subscribers we • General Risk Discussion (63%)
Association (ITIA) Limited said “we are delighted to be court”. came up with the idea of Virtual Coffee
#RespectThePressure campaign to involved in driving the message of In a survey carried out by ITIA Mornings. What are they you might ask? Based on this feedback, we intend to
tyre pressure safety home, glad to member, Continental Tyres, it was Essentially they are online, somewhat expand the topics being discussed at our
increase awareness of the
informal meetings scheduled for 45 virtual coffee mornings. As much as we are
importance of regularly checking the take part in this campaign, as poorly found that only one in ten female
minutes – with no agenda or slides deck - looking forward to meeting in person again
pressure in tyres for drivers of all inflated tyres can have fatal motorists regularly check their tyres,
enabling attendees to chat about matters of at future events when it is safe, the virtual
vehicles. The campaign’s aim was to consequences. We are supporting this is particularly worrying as a lot of
shared interest. The forum is open and coffee mornings have proved to be their
inform motorists on how to identify this initiative to ensure that we are female drivers do the school run and
confidential and is conducted in the spirit own little success story arising from COVID-
the correct tyre pressure for each playing our part in ensuring the have their children in the back of the 19! They have been so popular and
of co-operation They are intended to
vehicle, to correctly inflate their tyres safety of all our members on Irish car. The figure for male drivers was beneficial that they are likely to continue
replace the coffee break at a Working
and how to look out for potential roads. a slightly more ‘respectable, 23 well into the future.
Group or conference, but in a remote way
problems. ITIA CEO, Sue O’Neill said: percent - however both figures show
and with a theme. Of course, participants
Tyres are the most important part “Unfortunately, people don’t often the vast majority of motorists pay
have to bring their own coffee… and some
of any vehicle when it comes to think about checking their tyre scant regard to their tyres.
even bring along a sticky bun!
safety as they are the only point of pressure and motorists need to “The mismanagement of tyres
contact between the driver and the realise that incorrect inflation of their also reduces the performance of a We piloted the idea with a small number of
road itself. Based on an analysis of tyres does not only have important vehicle and increases running costs credit unions. We selected Anti-Money
road collision reports it is estimated safety implications – It is also an so it is important for drivers to know Laundering (AML) and Countering the
that defective tyres are the most offence to drive a vehicle with where to find their tyre pressure and Financing of Terrorism (CFT) as our focus subscribers about the format. Some of the
significant contributor (66%) to a defective or worn tyres, and this check the condition of your tyres for the discussions. The pilot was a great main benefits of them have been:
success and, delighted with the positive
3 An opportunity to share lessons learned
collision and the cause of up to as attracts a fixed charge (or fine) of regularly as an essential part of
many as 14 deaths each year*. €80, plus two penalty points looking after both their vehicle and feedback, we started to roll them out
further with the topic for discussion of and best practices
3 A networking opportunity with other
Speaking at the launch Ann endorsed on the driver’s license on safety”.
AML.
Credit Unions
Typically, they have been attended by 3 Raising awareness of new AML/CFT
Tyre-related penalty point offences: compliance officers, MLROs and threats
Manager/CEOs. Discussions have been 3 Enabling CUCC to have an aggregate
* Bald / not maintained / damaged tyre wide-ranging including how COVID-19 view of AML/CFT landscape to share
* Tyre with a cut affected member behaviour, volumes of onwards
* Tyre with tread depth less than 1.6mm STRs, money mules, supervisory 3 Issues and questions raised contribute
* Tyre with lump / bulge / tear / partial failure engagement, ongoing due diligence, high to CUCC’s guidance documents
* Unsuitable tyre risk members and so much more. We have 3 All done from the comfort of our own
received very positive feedback from our desks – saving on time and travel
18 :: CU FOCUS SUMMER 21 CU FOCUS SUMMER 21 :: 19C
U
Inspiring Credit Unions for
Financial Inclusion and Resilience
The National Cooperative Credit Union
Association (NaCCUA) hosted their first Credit
Union Conference in Freetown in April. The
conference was attended by representatives
from government departments, the Bank of
Sierra Leone, the Embassy of Ireland and
credit unions throughout the country. The
focus of the conference was to raise
awareness of the credit union movement as
reliable and sustainable institutions for worth
creation and poverty reduction. It was also an
opportunity for NaCCUA to recognise
individual credit unions in the movement who
have achieved increased growth in both
membership and assets.
Speaking at the conference, the Minister
of Trade and Industry (MTI) Dr. Edward Participating in the training session for credit union leaders
Hinga Sandy, stated the government
“believe that cooperative credit union model training sessions to the following groups: development of procedures and
can foster and promote economic NaCCUA board members, credit union membership education and training, [credit
empowerment among our people, especially board members and committee members, unions] are able to build consistency and
as it creates the platform for livelihood Foundation staff and Department of continuity.” Darko noted that people are not
support; business expansion and savings for Cooperative staff. The training sessions taught to save but “poverty can reduce if
the future and improve social services”. He focussed on topics specific to the groups people can learn how to manage their
further noted that the growth in the credit and included governance and leadership, limited financial resources”. The credit
union movement “is a clear testament that central finance facility and risk based union can support this “its objective is to
with the right structures in place, foresight supervision. The various trainings were well help the people save among themselves,
and shared vision, members can take received by all the participants with positive and build a formidable institution which is
responsibility to change their lives and those feedback provided. Darko has a wealth of sustainable and which can help people.”
of their families.” credit union experience, and has worked You can learn more about NaCCUA and
The conference coincided with a training with a number credit union movements the credit union movement in Sierra Leone
programme for the key stakeholders in the across Africa. He believes that credit unions by visiting their new website:
credit union movement. Over the course of have a role to play in economic development www.naccuasl.org
10 days Emmanuel Darko provided tailored on the continent, “through policies and
New furniture for the Amhara SACCO Federation office Launching NaCCUA website and new logo
CU FOCUS SUMMER 21 :: 21C
U
Amhara SACCO Federation
establish office with
Electric Aid funding
In the Amhara region in northern Ethiopia,
there are 3,500 SACCOs with close to
900,000 members. With support from the
Foundation a regional apex body was
registered and licenced in the city of Bahir
Dar, the capital of the Amhara region in
December 2020. Amhara Federation will
provide services such as capacity building,
training, technical support,
advocacy/representation as well as a
Central Financing Facility. Electric Aid have
generously provided almost €10,000 in
funding towards establishing an office for
the Ahmara SACCO Federation.
The funding provided has allowed for
the purchase of electronics and furniture
including: training equipment – projector,
screen and flipchart holder, office desks Leuelseged Adimasu, Board Secretary, Shitahun Yirsawu, Regional Cooperative Promotion
and chairs, filing cabinets, shelving and Bureau, Board Chair and Yalemwork Lijalem, Board member
office safe, a desktop computer, three Emmanu Darko providing training to Foundation staff and DoC staff
laptops, a printer/ copier/ scanner and
office stationary. This funding from Electric
Aid means the Amhara Federation can
begin providing services immediately to its
members. Irish Aid award The Foundation are delighted to be a
recipient of Irish Aid’s Civil Society
progress depth of outreach and advance
towards effective credit union
The Amhara SACCO Federation is the
first of three envisaged regional federations funding to the Funding. Irish Aid awarded the
Foundation €960,000 in funding in
supervision. The project will be co-
funded by the Foundation (40%) and
for Ethiopia established with the
Foundation’s support. It will serve as a Foundation support of our work in Sierra Leone for
the next three years. The new Step-Up
Irish Aid (60%). The awarding of this
funding is testament to our work and to
model and a template for the other
project will build upon the current the credit union as a model for socio-
federations. The establishment of these
project and will enable the credit union economic and human development.
federations involve an extensive
movement to develop their services and Thank you to the credit unions who
preparatory phase involving a feasibility
operations, to grow membership, generously support our work.
study, a business plan, mobilising
membership and raising capital and
working closing with the Central
Government Regulator to develop
appropriate regulation and supervision for Lilian Songo, NaCCUA Chair, Hon. Minister Dr. Edward Hinga Sandy, Esther Johnson, Dep
SACCOs Director Bank of Sierra Leone and Daire Courtney, Embassy
Yalemwork Lijalem,
Credit Union
Board Member,
Leuelseged Adimasu,
Donations
Board Secretary and
Nega Gismie, Board
Chairperson
To date 29 credit unions have
donated to the Foundation’s work in
2021, thank you for your support. If
your credit union would like to
donate to support the Foundation’s
$
Keep up to date with our work on
Facebook, Twitter, Instagram and LinkedIn.
work as we continue to build
financial inclusion for all, please For more information on the Foundation
contact us. contact Sinéad on 01 614 6945
Moyamba Teachers
| email slynam@creditunion.ie
Coop Credit Union
receive award for CU
with highest total assets
22 :: CU FOCUS SUMMER 21 CU FOCUS SUMMER 21 :: 23You can also read
