On 3 September 2024, Drogheda Credit Union (DCU) welcomed Neale Richmond, Minister of State for Financial Services, Credit Unions, and Insurance, to its Drogheda branch. The visit highlighted the essential role Credit Unions play in Ireland’s financial landscape, especially as they step up to fill the gap left by departing international banks. Minister Richmond engaged in discussions with DCU’s leadership on various critical issues, including the expansion of services, regulatory challenges, and the importance of retaining and attracting volunteer Directors under the Credit Union Amendment Act. He also addressed the need for regulatory reviews and the exemption of Credit Unions from the Digital Operational Resilience Act (DORA) to allow for a thorough impact assessment.
Minister Richmond praised DCU’s significant contribution to the local community and acknowledged the growing role of Credit Unions in Ireland’s financial future. Sheena Kierans, Chairperson of DCU, expressed her gratitude to the Minister on behalf of the entire team for his visit and ongoing positive engagement with the Credit Union sector.
