Sunday 4 December 2016

Credit unions should evolve to secure future

Published 03/06/2016 | 02:30

The argument for the creation of 'super credit unions' has been made for some time, with the Department of Finance and the Central Bank being among its leading advocates (Stock picture)
The argument for the creation of 'super credit unions' has been made for some time, with the Department of Finance and the Central Bank being among its leading advocates (Stock picture)

It has been said that watching mergers in business is a little like observing dinosaurs mating.

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But the very reason businesses do so is to avoid the fate of the now extinct giant reptiles.

In managing change, you must be prepared to leave something behind in order to go forward. This is the juncture at which many Irish credit unions now find themselves, and the very success of the organisations has made it inevitable that sooner or later some hard choices would have to be made.

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