Landscape Review of the Credit Union Sector in Northern Ireland

      Impact

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      Description of impact

      The objectives of the research are:
      (a) Assess the current role that credit unions play in the community and financial marketplace in Northern Ireland
      (b) Assess the social and economic impact of credit unions on rural communities (particularly with the closure of banks/financial institutions in rural areas and limited broadband provision in some areas that hampers on-line banking
      (c) Assess the role of credit unions in Great Britain and the Republic of Ireland and how this compares to Northern Ireland
      (d) Identify the interests and linkages that the Executive has with the sector; and
      (e) Define the strategic direction of credit unions in Northern Ireland and how the movement intends to progress.

      Who is affected

      Northern Ireland Population

      Narrative

      The NI Executive has approved a ‘Landscape review of the credit union sector in Northern Ireland’ to gain a full understanding of the role of credit unions in Northern Ireland, to evaluate the challenges that credit unions may be experiencing and to consider the future options for the sector.
      The Department for Communities will lead the review, in conjunction with the Department for the Economy and Department for Agriculture, Environment and Rural Affairs.
      This research will provide an independent comprehensive analysis of the role credit unions play in the community and financial marketplace in Northern Ireland. This analysis will provide the Departmental officials the evidence base to consider the findings and brief the NI Executive.

      ID: 78126852