Credit Union spends €50,000 on Denver jolly
The Irish League of Credit Unions, which oversees the troubled credit union sector, is to spend €50,000 to send 11 of its board members on a 14,000km round trip to a conference in Denver, Colorado, at the foot of the scenic Rocky Mountains.
"In relation to the World Credit Union Conference, which takes place in Denver in July this year, 11 ILCU board members (one of which is the Irish WOOCU director, and one of which is speaking at the conference), three members of the supervisory committee, one staff member and two scholarship winners will attend the conference," said an ILCU spokesperson.
One of their tasks will be to promote the World Credit Union Conference which will take place in Belfast in 2016.
The conference starts with a golf tournament on July 11, with several days of meetings and presentations, before a closing event at Denver's Sculpture Park on July 15. Outside the speeches, trips are available to the Coors Brewery, the Rocky Mountains and California's wine growing region.
"The total cost of attendance at the conference this year is likely to be around the €50k incurred last year. Costs covered in the above figure include airfare, hotel accommodation and registration costs, which pay for the staging of the conference," the ILCU added.
"It should be noted that the ILCU board of directors are not remunerated for their work. Unlike banks and financial institutions, Board members who are involved with the credit union movement hold these positions for beliefs, not for bonuses.
"Board members from the ILCU who will attend this conference will take holidays/leave from their day-to-day jobs in order to attend and to remain up-to-date on the latest worldwide developments within the credit union movement."
Sunday Indo Business