Press release
Minister Chambers Appoints New Members to the Credit Union Advisory Committee
Published on
Last updated on
Published on
Last updated on
The Minister for Finance, Jack Chambers TD, today announced the appointment of the following two new members to the Credit Union Advisory Committee (CUAC).
1. Ms Therese Conway , CEO of Cavan Credit Union
2. Professor Brian O’Kelly , Emeritus Professor of Finance at DCU Business School
Therese Conway has 15 years’ senior management experience in the Credit Union sector. Professor O’Kelly is Emeritus Professor of Finance at Dublin City University. Brian has over 20 years' experience in the financial markets with AIB Capital Markets, Wells Fargo Bank International and Permanent TSB.
The new CUAC members will hold office for three years, beginning 1st January 2025 and will replace two outgoing members: Mr Seamus Newcombe and Mr Dermot Griffin.
In addition to the appointment of Ms Conway and Professor O’Kelly, Minister Chambers has reappointed three of the existing members of CUAC with effect from 01 January 2025. These members are as follows:
1. Ms Lorraine Corcoran , Chair of CUAC, Director Afanite, reappointed for a three-year term
2. Dr Olive McCarthy , Senior Lecturer, UCC Centre for Co-operative Studies, reappointed for a one-year term
3. Mr Diarmaid O’Keeffe , Partner at EisnerAmper Ireland, reappointed for a three-year term
The CUAC is an important advisor to the Minister on credit union issues and has undertaken wide ranging research in relation to the credit union sector. Currently CUAC are carrying out an assessment of the implementation of the 2023 Credit Union Amendment Act.
Minister Chambers thanked the outgoing members, Mr Newcombe and Mr Griffin, for their hard work and congratulated the new members stating:
“I would like to congratulate both Ms Conway and Professor O’Kelly on their appointments to the Credit Union Advisory Committee and I look forward to working with them on credit union issues. Ms Conway and Professor O’Kelly will bring a wealth of invaluable experience to the committee at an important time for Credit Unions in our country. I also wish to acknowledge the contribution made by Mr Newcombe and Mr Griffin during their time on the committee and sincerely thank them.”
Minister of State with responsibility for Financial Services, Credit Unions, and Insurance, Neale Richmond TD thanked the CUAC for their ongoing work:
“I would like to thank CUAC for their ongoing work and I look forward to their first report on the Credit Union Amendment Act. I would like to congratulate Ms Conway and Professor O’Kelly on their appointments and want to thank Mr Newcombe and Mr Griffin for their contributions to CUAC and to the Credit Union sector.”
ENDS
Note for Editors
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 these appointments, the full committee will comprise the following seven individuals from the 1st January 2025: