In 2011 the government established the Commission on Credit Unions to review the future of the credit union sector.
The Commission presented its final report to the Minister for Finance in March 2012.
Recommendations were made to strengthen the credit union regulatory framework and to provide for more effective governance and regulation.
The Commission on Credit Unions comprised members from various credit union stakeholder groups and included:
The Report was agreed over a nine-month period by all Commission members. Credit Union and Co-operation with Overseas Regulators Act 2012 implements over 60 of the recommendations in the Commission Report.