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There are approximately 300 Credit Unions in Ireland serving 3.3m members.


The sector has experience significant challenges in recent years including deleveraging, higher regulation, higher competition and now negative interest rates.


With an average Cost:Income ratio of 71% and Return on Assets less than 1% the situation is serious, the sector and the unique social purpose it fulfils is under threat.


FinTech can be an enabler for transformation, allowing Credit Unions to improve market reach and member experience, back office efficiency, regulatory relations and develop a more agile business model.


In this paper we outline some initial ideas on how Irish Credit Unions can apply Fintech to achieve sustainability.


Thank you to the team at CUDA and Solution Centre for their assistance, understanding and good humour in preparing this document. Go raibh maith agat.


Produced in conjunction with  


fintech white paper cuda solution centre