The Credit Union Policy section is primarily responsible for the development of efficient and effective policies for credit unions.
The section's responsibilities include:
Credit unions in Ireland operate under credit union specific legislation. The principal legislation covering credit unions are the Credit Union Act 1997, as amended, and the Credit Union and Co-operation with Overseas Regulators Act 2012, known collectively as the Credit Union Acts 1997 – 2012.
The Credit Union Act 1997 established a Registrar of Credit Unions and included a relaxation of common bond definitions, an increase in the duration and amount of savings and loans allowed and also permitted credit unions to provide additional services.
Following publication of the Report of the Commission on Credit Unions, the Credit Union and Co-operation with Overseas Regulators Act 2012 was enacted.
The 2012 Act implements over 60 of the recommendations of the Commission on Credit Unions across a range of areas, including: