Treacy Appoints The Credit Union Advisory Committee

Mr Noel Treacy, T.D., Minister for Science, Technology and Commerce, has today (Monday 12th February, 2001) announced the appointment of the Credit Union Advisory Committee. This Committee advises the Minister for Commerce and the Registrar of Friendly Societies on Credit Union affairs, in accordance with its mandate under Section 180 of the Credit Union Act, 1997.

The seven Committee Members will hold office for three years from 1 February 2001. The Committee’s statutory function is to advise the Minister and such other person, as the Minister thinks fit in relation to -

• the improvement of the management of Credit Unions;
• the protection of the interests of Members and Creditors of Credit Unions; and
• other matters relating to Credit Unions, upon which the Minister, the Registrar or such other persons, as may be specified by the Minister, may from time to time seek the advice of the National Committee.

The Committee will continue to be chaired by outgoing Chairman, Mr Michael Woods. Also re-appointed to the Committee are Mr. Patrick Coughlan and Mr Tim Molan. The new appointees are Ms Maureen Monaghan, Ms Anne Forde, Mr Martin Nolan and Mr Gerry Thompson.

Minister Treacy said, "the membership of the Credit Union Advisory Committee will have a balance of continuity and experience through the continuance of service of about half its members, while the appointment of four new members will introduce a fresh perspective to the work of the Committee. Each of the members has given distinguished service to the credit union movement over many years, both locally and nationally and has intimate knowledge of credit union operations".

While meeting with the Committee, the Minister welcomed the members and wished them well in their work, during the coming three years, at a time when the credit union movement, is facing a number of challenges across a range of fronts. He said, "I am confident that the Committee will make an important contribution to dealing with these challenges and that the interests of the credit union members will thus be well served."