Credit Unions

The Credit Union sector is currently undergoing fundamental change. In addition to dealing with day to day operations, management and staff face increased regulatory oversight, more onerous reporting requirements, and a greater emphasis on risk management and corporate governance.

At the same time, Credit Unions continue to deal with issues that emerged during the financial crisis such as viability, their business model, governance, management effectiveness and scale.

At RBK, we understand this is a critical time for Credit Unions and our specialist team is here to help. Our specialists combine traditional accountancy expertise with strategic business advice and integrated business solutions. We work with Credit Unions of all sizes and our clients view us as trusted advisers assisting them to meet the current challenges.

Our services include:

Annual Audit: RBK ensures that your credit union’s audit is statutorily compliant and meets the regulator’s requirements.

Independent Review: RBK offers independent reviews of your Credit Union’s loan book, liquidity, post merger review and corporate governance

Internal Audit: RBK provides benchmarking, advisory and outsourced services to improve your internal audit.

Risk and Compliance Reviews: The Credit Union Act imposes obligations regarding financial stability. RBK will assist you in meeting these requirements.

Strategic Assistance: Strategic planning is a legal requirement for Credit Unions. RBK will facilitate your Board to fulfil this legal requirement.

Mergers / Transfer of Engagements: For some Credit Unions, the decision to enter into a merger or transfer of engagements is necessary to secure survival; for others, it is a strategic move to secure growth.

HR and Payroll: RBK provides a range of HR and Payroll support services to help your Credit Union comply with its obligations under employment legislation.

COVID-19 Considerations: COVID-19 has presented significant challenges for Credit Unions. The major issues are declining loan demand, an increase in credit control considerations and other operational matters such as HR, Liquidity and Capital management.

For more information or to discuss your Credit Union’s specific requirements, please contact a member of our team.

Team Members

Michelle O'Donoghue

Governance, Risk and Assurance Partner

View Profile

Colm O'Grady

Audit & Business Advisory Partner

View Profile

Ronan Kilbane

Audit & Business Advisory Partner

View Profile

Yvonne Clarke

HR Solutions Manager

View Profile

Related Downloads

The Implications of the Amended Minimum Competency Code (MCC) 2023 for Credit Unions 471.53 KB

With effect from 1 October 2024, the MCC 2017 and MCR 2017 will apply to all in-scope activities for credit unions. These regulatory changes are being introduced with a view to ensuring that credit union members are afforded the same level of protection as consumers availing of similar products and services from other regulated entities. The MCC specifies certain minimum competencies for individuals and is closely linked with the Fitness and Probity Regime while the MCR places obligations on the credit union itself.


Credit Union Benchmarking Survey Results 2023 5.04 MB

Results from our Annual Credit Union Benchmarking Survey 2023. This report summarises the findings of a survey of credit unions conducted in March/April 2023. It reflects survey responses from 44 credit unions and financial data used from 72 Credit Unions from published annual reports. Sample of Credit Unions represented €10.54b or 51.9% of total asset size of Credit Union movement in the State (sector asset size was approx. €20.3b across 205 Credit Unions as at 30 September 2022). Prior year data has been updated to reflect additional information that became available after our 2022 Credit Union Benchmarking Report was published. Non-financial data in this year’s report refers to the current year to date and includes prior year comparisons where available.


Bringing your Strategy to Life 2023 2.88 MB

Colm O'Grady, Partner, RBK & Ciara Kelly, Managing Director, Futureneerz presented on being clear on your Why/What/How and using a Strategic framework and Culture plan in order that your business and people thrive - sharing a live case study and its application to Credit Unions to demonstrate how this can be done.


Credit Union Regulatory Update 2023 1.34 MB

Michelle O'Donoghue, Partner and Deirdre Ward, Manager with RBK presented on moving the regulatory functions beyond compliance to become solution orientated functions with a forward thinking dynamic that aids strategic goals at our Credit Union Seminar in May 2023.


Talent Mobility - Creating Capacity & Capability within your Organisation 1.95 MB

Yvonne Clarke, HR Solutions Manager with RBK presented on how to capitalise on the talent that is already in your business at our Credit Union Seminar in May 2023. Your next great hire could be one of your own employees. Create career agility whilst ensuring that you keep pace with the demands of the modern business landscape.


RBK Credit Union Benchmarking Results 2023 - Our Analysis 2.58 MB

Ronan Kilbane, Partner with RBK presented the results of our annual Credit Union Benchmarking Survey at our Credit Union Seminar in May 2023.


Related News

Related Services