A PUBLIC consultation has been launched to discuss some potential reforms to the 12 credit unions in Fermanagh and branches across the North which are “rooted” in local communities.
The Northern Ireland Economy Minister, Dr Caoimhe Archibald, has launched a public consultation which is aiming to find out how the Stormont Executive can help rural credit unions.
There are currently 84 credit unions in the North, which are affiliated to the Irish League of Credit Unions. It’s estimated the branches provide a vital service to an estimated 536,000 members.
Many local residents rely heavily on credit unions, with 12 branches operating in the county.
There are currently fully-functioning credit unions in Belcoo, Derrygonnelly, Ederney, Enniskillen, Irvinestown, Knockninn, Lisbellaw, Lisnaskea, Newtownbutler and Roslea.
“Credit unions are rooted in communities,” explained Dr Caoimhe Archibald.
They offer accessible and ethical financial services, and they do so with a deep understanding of local needs. I want to make sure they are supported and thrive in the years ahead.
“This consultation is a chance for credit unions, their members and the wider public to shape the future of the movement here,” added the Northern Ireland Economy Minister.
While major concerns have been raised over the efficiency of rural post offices in Fermanagh, the Stormont Executive is remaining committed to supporting credit unions and their members.
“My Department is committed to the promotion of financial inclusion and a regionally balanced economy in which everyone shares in the benefits of prosperity,” Dr Achibald said.
The consultation on the Credit Union (Modernisation and Reform) Bill is open until Thursday, July 10, at 11.59pm. It can be accessed on the Northern Ireland Department for the Economy website.
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