Irish League of Credit Unions
Encyclopedia
The Irish League of Credit Unions (ILCU) is a trade association
for credit union
s in Ireland
. It operates in both the Republic of Ireland
and Northern Ireland
. It is an unincorporated
body governed by a board of directors elected by member credit unions.
The first credit unions in Ireland were initiated in the 1950s by three people working in Dublin: Nora Herlihy, a National School teacher from Ballydesmond
; Sean Forde, an employee at a Dublin bakery; and Séamus P. MacEoin, a civil servant
. The economy of the Republic
was depressed, urban poverty and emigration
were increasing, and the credit union movement was envisaged as a way to help working class people manage their finances. The ILCU was established in 1960.
negotiations and lobbying
national governments and European Union
bodies. It does marketing
and research and development
. It provides services for members, including legal advice, secretarial service, human resources, information technology, training, and business services. It also takes responsibility for savings protection and monitoring and supervision of member unions.
Trade association
A trade association, also known as an industry trade group, business association or sector association, is an organization founded and funded by businesses that operate in a specific industry...
for credit union
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
s in Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
. It operates in both the Republic of Ireland
Republic of Ireland
Ireland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...
and Northern Ireland
Northern Ireland
Northern Ireland is one of the four countries of the United Kingdom. Situated in the north-east of the island of Ireland, it shares a border with the Republic of Ireland to the south and west...
. It is an unincorporated
Incorporation (business)
Incorporation is the forming of a new corporation . The corporation may be a business, a non-profit organisation, sports club, or a government of a new city or town...
body governed by a board of directors elected by member credit unions.
History
Ballydesmond
Ballydesmond , is a rural village in County Cork, Ireland, situated on the Blackwater River, near its source in Menganine on the Cork-Kerry border. In Irish Baile Deasumhain, meaning town of the Desmond, was named after the legendary freedom fighter, the Earl of Desmond, who is believed to have...
; Sean Forde, an employee at a Dublin bakery; and Séamus P. MacEoin, a civil servant
Civil service of the Republic of Ireland
The Civil Service of Ireland is the collective term for the permanent staff of the Departments of State and certain State Agencies who advise and work for the Government of Ireland. It consists of two broad components, the Civil Service of the Government and the Civil Service of the State...
. The economy of the Republic
Economic history of the Republic of Ireland
The state described today as the Republic of Ireland seceded from the United Kingdom of Great Britain and Ireland in 1922. The state was plagued by poverty and emigration until the 1960s and again in the 1970s and 1980s...
was depressed, urban poverty and emigration
Irish diaspora
thumb|Night Train with Reaper by London Irish artist [[Brian Whelan]] from the book Myth of Return, 2007The Irish diaspora consists of Irish emigrants and their descendants in countries such as the United Kingdom, the United States, Canada, Australia, Argentina, New Zealand, Mexico, South Africa,...
were increasing, and the credit union movement was envisaged as a way to help working class people manage their finances. The ILCU was established in 1960.
Functions
The ILCU represents credit unions in social partnershipSocial Partnership
Social partnership is the term used for the tripartite, triennial national pay agreements reached in Ireland.The process was initiated in 1987, following a period of high inflation and weak economic growth which led to increased emigration and unsustainable government borrowing and national debt...
negotiations and lobbying
Lobbying
Lobbying is the act of attempting to influence decisions made by officials in the government, most often legislators or members of regulatory agencies. Lobbying is done by various people or groups, from private-sector individuals or corporations, fellow legislators or government officials, or...
national governments and European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
bodies. It does marketing
Marketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
and research and development
Research and development
The phrase research and development , according to the Organization for Economic Co-operation and Development, refers to "creative work undertaken on a systematic basis in order to increase the stock of knowledge, including knowledge of man, culture and society, and the use of this stock of...
. It provides services for members, including legal advice, secretarial service, human resources, information technology, training, and business services. It also takes responsibility for savings protection and monitoring and supervision of member unions.