Gaeilge

Search gov.ie

Press release

Minister Donohoe appoints a new member to the Credit Union Advisory Committee

The Minister for Finance Paschal Donohoe today announced the appointment of a new member to the Credit Union Advisory Committee (CUAC).

  • Mr. Michael Byrne, CEO of Core Credit Union and founding Director of CU Mortgage Services DAC.

This follows the recent appointments of Ms. Therese Conway, CEO of Collaborative Finance CLG and Professor Brian O’Kelly, Emeritus Professor of Finance at DCU Business School to CUAC.

Mr. Byrne will hold office until 31 December 2027 and will replace Mr. Michael Ahern on CUAC.

The CUAC is an important advisor to the Minister for Finance and the Minister of State with responsibility for Financial Services, Credit Unions, and Insurance.

Minister Donohoe thanked the outgoing member, Mr. Ahern, and congratulated Mr. Byrne stating:

“I would like to congratulate Mr. Byrne on his appointment to CUAC and I look forward to working with him and the other members of CUAC on credit union issues during an important time for the sector. I also wish to acknowledge the valuable contribution made by Mr. Ahern during his time on CUAC and wish him every success in the future.”

Minister of State with responsibility for Financial Services, Credit Unions, and Insurance, Robert Troy thanked the CUAC for their ongoing work:

“I would like to thank CUAC for their ongoing work and I look forward working closely with them on credit union issues. I would like to congratulate Mr. Byrne on his appointment and want to thank Mr. Aherne for his contributions to CUAC.”

Notes

Credit Union Advisory Committee (CUAC)

The CUAC advises the Minister for Finance in accordance with its mandate under Section 180 of the Credit Union Act 1997. The CUAC’s statutory function is to advise the Minister for Finance and such other persons as the Minister thinks fit regarding: 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 Central Bank or such other persons as may be specified by the Minister may from time to time seek the advice of the Committee.

The CUAC meets on a monthly basis in the Department of Finance, with the department providing secretariat. It regularly invites Credit Union stakeholders to meetings to share their views on various topics.

Following the appointment of Mr. Byrne, the full committee will comprise the following seven individuals from 1 February 2025:

  • Ms. Lorraine Corcoran, Chair, Director Afanite, Lead - Personal Micro Credit Initiative
  • Dr. Olive McCarthy, Senior Lecturer, UCC Centre for Co-operative Studies
  • Mr. Diarmaid O’Keeffe, Head of Audit, EisnerAmper Ireland
  • Ms. Therese Conway, CEO of Cavan Credit Union
  • Professor Brian O’Kelly, Emeritus Professor of Finance at DCU Business School
  • Ms. Elizabeth Boylan, Chair, Board Oversight Committee, Progressive Credit Union
  • Mr. Michael Byrne, CEO of Core Credit Union