Credit Unions Once Again Ranked as Ireland’s Most Trusted Organizations
Irish CUs take top spot in RepTrak® 2020 study
Irish League of Credit Unions
May 08, 2020
DUBLIN—Credit unions have been named the most highly regarded organizations in Ireland according to the latest Ireland RepTrak® 2020 study carried out by The Reputations Agency. With a score of 83.7, credit unions took the top spot overall for their role as a trusted cornerstone of local communities with over 3.6 million members nationwide. This represents a return to the top spot for credit unions who finished second in last year’s poll after having come first in 2018.
The Ireland RepTrak® 2020 study, undertaken by the Reputations Agency for the 11th consecutive year, delves into the perceptions of over 7,000 members of the public collected during January and February 2020 and measures the level of trust, respect, admiration and esteem they have for 100 organizations in Ireland. The study highlighted that, for the Irish population, community-based organizations pave the way for trust and leadership. Credit unions scored consistently well in six of the seven reputational drivers, leading the way in Governance.
“We are proud to be part of a movement that is regarded so highly across the country," said Paul Bailey, head of communications at the Irish League of Credit Unions, World Council's direct member organization in Ireland. "Our dedicated staff and volunteers genuinely care about what our members want, and this is why we have consistently tailored our services and products to our members’ specific needs. Nowhere is this more evident than during the current pandemic where credit unions have shown huge innovation and flexibility to continue to deliver services to their members. We are delighted to celebrate this good news and we would like to say a heartfelt thanks to all our valued members for their continued loyalty and support. Of particular note in today’s results is that credit unions lead the way in Governance, no mean achievement for a completely volunteer led organization.”
For over 60 years, credit unions have been at the heart of Irish communities, paving the way for financial inclusion and stability and enabling progression in many households. Credit unions also support local community initiatives and charities, because we understand that it’s the little things that make the difference.
“Credit unions have forged a strong bond with their members and indeed the wider community. This is not just because of our commitment to the provision of member-driven, not-for-profit savings and loan services, but also due to our program of sponsorship and donations to local sporting clubs, youth initiatives and charities,” continued Bailey. "We always stand ready and willing to support and assist those living and working in communities throughout Ireland. I would encourage anyone in the community who feels they could benefit from affordable and straightforward credit, or any of the many services we offer, to drop in for a chat to their local credit union and find out how we can be of help. You’ll soon find out why credit unions are the most trusted brand in Ireland."
World Council of Credit Unions is the global trade association and development platform for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.
World Council has implemented 300+ technical assistance programs in 89 countries. Worldwide, 85,400 credit unions in 118 countries serve 274 million people. Learn more about World Council's impact around the world at www.woccu.org.