Committees

Nominations Committee

Comprised of between three and five members, the Nomination Committee is responsible for:

• Identifying candidates to be nominated for appointment to the Board of Directors
• Accepting nomination of candidates proposed to be appointed to the board
• Conducting due diligence on members seeking election to the board in accordance with the Fitness & Probity requirements of the Central Bank Reform Act 2010
• Proposing candidates for election by a general meeting to the members of the Board

Every candidate to be nominated for appointment as a member of the board of directors of a credit union must be proposed through the Nomination Committee of the credit union.

At Palmerstown Credit Union we have a number of committees that are mainly made up of volunteers. These committees help with the running of the credit union. If you are interested in becoming involved in any of our committees you can contact us here

Youth Committee

The Youth Committee is appointed on an annual basis with the aim of spreading awareness of the credit union and fostering our ethos amongst the younger members of our community.

The Youth Committee meets every month to discuss and organize new initiatives to encourage youth involvement in the Credit Union.

Simultaneously the Youth Committee is devoted to celebrating the outstanding achievements, commitment and high levels of participation of young people in a vast array of sporting, academic, art, cultural and community activities throughout the year.

We are delighted to sponsor these activities, which you can read more about these events, on the Community & Youth section of our website, and we would encourage more parents to get their children involved at every opportunity

Strategy Committee

The primary function of the Strategy Committee is to outline the strategy of the Credit Union in the years going forward.

Working in co-operation with the management team and staff, the Strategy Committee assesses the performance of the Credit Union taking into account the strengths, weaknesses, opportunities and threats at hand and devises an appropriate strategy plan.

Meeting on a regular basis, the Strategy Committee monitors the on-going implementation of the plan laid out previously, actively reviewing the progress of the credit union in relation to the parameters set out in the strategy plan.

In this manner, the Strategy Committee ensures that the agreed plan remains relevant and up to date whilst incorporating any necessary changes that may arise.

Membership Committee

The membership committee is appointed annually by the board of directors to consider and decide on applications for membership of the credit union.

Credit Control Committee

The Credit Control Committee is appointed annually by the board of directors to endeavour to ensure that repayment of loans is in accordance with the loan agreements, where a member is unable to meet their original agreement and has been assessed by the Credit Controller the committee reviews the sustainability of the loan and whether a restructure is required.

Investment Committee

The role of the Investment Committee is to oversee the investment portfolio of the credit union.

Adhering to Central Bank guidelines and utilising professional advice the Investments Committee meets regularly to review the performance of any current investments while investigating any avenues for new investment.

Audit Risk & Compliance

The Audit Risk & Compliance Committee is tasked with the responsibility of reviewing both internal and external audits.

Assisting the Board of Directors, they ensure that any risks arising from the audits are mitigated and that appropriate measures are put in place.

Maintaining a tight eye on the risk register, the Committee ensures that key risks are identified, assessed, monitored and managed in a timely manner.

The Committee also meets regularly with the compliance officer to make sure that they are kept up to date with all statutory and regulatory requirements and guidance, and informed of any impending statutory changes which may impact directly upon the credit union.

Credit Committee

The Credit Committee is appointed annually by the board of directors to endeavour to ensure that approval of loans are in accordance with the Lending Policy. Meetings are held on a monthly basis and the committee reports monthly to the board.

Community Fund Committee

The Community Fund committee is appointed by the board of directors based on the policy requirements for the fund. The primary role of the committee is to assess community fund application on behalf of the credit union, approve applications and pass larger applications to the board for further assessment.

We offer many services aimed at improving access to financial services and encouraging financial inclusion.