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Introduction

Just as Credit Unions uphold the highest ethical standards in serving their communities, LIA's foundation is built upon integrity, trust, and commitment. We believe in doing what's right, always. Since 2009, our commitment to the Credit Union movement in Ireland has remained unwavering. This long-standing relationship is testament to our reliability, adaptability, and dedication. 
LIA is delighted to continue to support Credit Unions into the future – one where they are empowered, progressive and continue to be cornerstones of their communities. Don't just take our word for it, hear from some of the Credit Unions we support, featured below.

"LIA's unwavering support, innovative training solutions and commitment to ethical business practices have made them an invaluable partner in our journey.
We look forward to continuing our collaboration with LIA and are confident that together, we will achieve even greater heights in competence and success in the years to come."

Norman McDonnell QFA CUC CUG CUA
CEO, Connect Credit Union

Supporting Credit Unions with their MCC requirements.

At LIA, we are committed to assisting Credit Unions in navigating the updated Minimum Competency Code (MCC) requirements. The revised MCC mandates that Credit Union staff engaged in savings/investment and lending operations attain the appropriate MCC qualifications. To address your queries and provide clear guidance, we have compiled a Frequently Asked Questions (FAQ) document, accessible via this link.

Key Points to Note:

  • For Lending and Mortgage Activities: Staff members partaking in these areas are required to obtain specific qualifications as outlined by the Central Bank of Ireland, including  LIA’s APA Loans which will cover all lending and mortgage activities and the CUA designation which will cover consumer credit activies.

  • For Term Deposits Activities (exceeding 1 year): Personnel involved in managing or advising on Term Deposits of duration one year or more must achieve the qualifications specified by the Central Bank of Ireland, which include LIA’s Credit Union Adviser (CUA) and/or APA Investment professional designations.

  • Important Deadlines: The final date to acquire these qualifications is set for 1st October 2028. However, individuals operating in these sectors must ensure they are registered for the relevant examinations by 1st October 2024.

FAQ about Credit Union MCC requirements.
Providing clarity on MCC requirements for Credit Unions

Watch our recent on-demand event with Elaine Byrne, Registrar of the Credit Unions with the Central Bank of Ireland. 

Practical Implications of the MCC requirements for Credit Unions

Watch our recent on-demand event with Ide McCormack, Internal Audit Senior at the Irish League of Credit Unions, along with the link to the webinar presentation slides.

What it means for your Credit Union to be aligned with LIA:

1. Practitioner training and education designed around you

At LIA, our organisation isn't just about providing education and training - it's about living it. Comprised of seasoned practitioners who are working within the Credit Union movement, we don't just know the theories, we understand the practical realities and challenges faced by Credit Unions. This helps us in crafting solutions that are tailored, relevant, and efficient.

LIA offers a range of education programmes and training courses dedicated to meeting the needs of the Credit Union Movement in Ireland, ranging from short training courses to Level 7 qualifications to meet the Minimum Competency Code (MCC) requirements as set by the Central Bank.  
As an LIA member you have exclusive access to an extensive library of CPD webinars accessible 24/7. These webinars are delivered by leading experts in their fields. These webinars not only serve as a pathway to fulfil your annual CPD obligations but ensure you stay informed on important and relevant topics.  
CPD webinar topics include: 
  • Ethics in Financial Services 
  • Anti Money Laundering 
  • Housing Loans 
  • The General Date Protection Regulation (GDPR) 
  • Consumer Credit and much more… 
Find out more
LIA continuously runs professional development (CPD) events to help you stay up to date on the latest developments for credit union employees. To date we’ve covered Credit Union specific topics such as AML/CFT Role Specific Training for Directors and BCOs - in association with CUDA – and training on Implementing the Assisted Decision-Making requirements. Every year we run a number of free events to give back to our members.  
 
LIA will be hosting a panel disscussion on the 21st February 2024 to answer some of  'the key questions' that you, as Credit Union professionals, may have regarding your MCC (Minimum Competency Code) requirements. This session is designed to provide clarity and answer some of the key questions you may have about your Minimum Competency Code requirements. You can register for this panel discussion by clicking the link below. 
Find out more about LIA's CPD offering
Mapping the Credit Union Controlled Functions to LIA Qualifications
2. Your voice, our action

When you speak, we don't just listen - we take action! Your feedback is invaluable to us. We pride ourselves on swiftly implementing changes and improvements based on the needs of your Credit Union's team. This dynamic collaboration ensures that our partnership remains fresh, relevant, and effective. These changes are implemented across our education, training and events offering.

3. Dedicated Communication and Supports

We believe that effective communication is the keystone of any successful relationship. With this belief at the core, LIA has established direct lines of communication tailored specifically for the needs of Credit Unions.
LIA’s Credit Union Relationship Manager, Brian Dunphy, is dedicated to ensuring that the voice, needs and aspirations of the Credit Unions are heard, understood and acted upon. This direct line of communication with LIA is about being present, engaged and always focused on advancing shared goals and visions of LIA and the Credit Union movement.

Brian Dunphy

Mobile: 087 738 7056 Email: brian.dunphy@lia.ie

Book an online consultation here

Hear it for yourself!

LIA has assisted Credit Union Plus, its Board of Directors and its employees for many years by providing educational opportunities. This in turn ensures that Credit Union Plus can offer professional advice to our Members, adhere to regulation and ensure that Members' financial needs are fulfilled. Our relationship with LIA has been nurtured through the friendly and approachable nature of their employees.

Roisin Reilly, BSC QFA CUA CUG

Regional Manager, Credit Union Plus Navan

Monaghan Credit Union has partnered with LIA for many years.  Our officers, both volunteers and staff, have typically attained APA or QFA designations.  The insights gained by participating officers greatly assists in reinforcing our culture of providing our service in an ethical and competent manner.  The flexibility of studying at a time that suits you works for our officers. The staff of LIA also listen and respond to our training needs, most recently with the introduction of the 8 module AML Risk Assessment Training.  The online CPD platform is a very useful resource. 

Regina Connolly, BA MBA QFA CUA

CEO, Monaghan Credit Union