Faced with a struggling economy, the Irish credit unioncommunity is looking for options to save as many credit unions aspossible.

Some of Ireland's credit unions – community-based savings andlending clubs owned by their members – lent aggressively during thego-go years of the “Celtic Tiger” economy and are now struggling during a severe downturn.

On Sept. 8, the Centre for Co-operative Studies, UniversityCollege of Cork, held a seminar in Cork, Ireland on the U.S.experience with CUSOs. NACUSO General Counsel Guy Messick, MarkZook, Chairman of NACUSO and CEO of Maps Credit Union in Salem,Ore., Kirk Drake CEO of the CUSO Ongoing Operations, Ray CrouseNACUSO board member and president of the CUSO Allegacy Services,and Jeff Russell CEO of the CUSO TMG Financial Services allattended.

“Our colleagues in Ireland are facing economic andpolitical challenges that accelerate the need for collaboration,”Messick said. “If they can develop the legal framework to enableeveryone to work together, they have an excellent opportunity topreserve a vibrant credit union industry.”