Why the CUG

The Credit Union Governance (CUG) designation is ideal for members of Credit Union Boards of Directors and Board Oversight Committees, as well as Credit Union Managers. There is a specific focus on the duties and responsibilities of members of Boards of Directors, Board Oversight Committees and other Committees of Credit Unions, as well as the Manager, Risk Management Officer, Compliance Officer and other officers of the Credit Union.

The Programme has been developed to reflect the ongoing legislative changes to the Credit Union regulatory structure, and incorporates all aspects of the 2012 Credit Union and Co-Operation with Overseas Regulators Act. The textbook is cross-referenced throughout with specific Acts, Regulations, RCU requirements and Guidance Notes.

Course Aims

Course Aims

After successfully completing the course you will understand:  
  • the statutory functions, responsibilities and reporting obligations of certain functions within a Credit Union including Boards of Directors, Board Oversight Committees and Credit Union Managers
  • the general governance and regulatory obligations of a Credit Union
  • the operational risks that can exist in Credit Unions and how to manage and reduce such risks.
from €325 per module

Module Pricing

The registration fee for each module starts from €325* and includes examination entry, textbook, webinars as available, and access to our online student resource Your LIA, for study supports.

*See individual module details for individual module prices.


To be awarded the CUG designation by LIA, you must register for and successfully complete a single module educational programme offered by LIA’s academic education partner, the Institute of Banking which is a recognised college of University College Dublin (UCD). Those who successfully complete this programme are awarded the Professional Certificate in Credit Union Governance) by UCD – a 5 ECTS (European Credit Transfer and Accumulation System) qualification at level 7 of the National Framework of Qualifications.


Entry Requirements

If under 23 must hold five Leaving Cert passes

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Course Modules

Credit Union Governance & Risk

  • Structure of Credit Unions
  • Board of Directors and Committees
  • Board Oversight Committee
  • The Manager
  • Compliance Programme
  • Fitness & Probity
  • Core Services
  • Additional Services
  • Money Laundering & Terrorist Financing
  • Meetings & Resolutions
  • Risk Management & Systems
  • Financial Management
  • Accounts
  • Stabilisation & Restructuring


2 hours duration

100 questions

Pass mark 40%

Next Exam Date: 18th May 2019 Close Off Date: 22nd February 2019 Module Cost: €325

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