University College Cork
Information Booklet
Diploma in Credit Union Governance
and
Diploma in Credit Union Operations
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University College Cork
2013
Contents
1. Introduction to Pathways ................................................................................................................... 3
2. The Diploma in Credit Union Governance and the Diploma in Credit Union Operations .................. 4
3. Programme Delivery ........................................................................................................................... 9
Module Text ........................................................................................................................................ 9
Tutorial ................................................................................................................................................ 9
Online Learning and Support ............................................................................................................ 10
4. Assessment ....................................................................................................................................... 11
Study Time ........................................................................................................................................ 11
5. Entry requirements ........................................................................................................................... 12
Admission procedures and further information ............................................................................... 12
Fees ................................................................................................................................................... 12
Further Information .......................................................................................................................... 12
Schedule of Exemptions** ................................................................................................................ 14
6. The Valerie Hand Memorial Scholarship........................................................................................... 16
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University College Cork
1. Introduction to Pathways
Pathways is a suite of new accredited programmes specifically designed for staff and
volunteers of credit unions. Developed by CU Learning and Development (ILCU), the Centre
for Co-operative Studies and Adult Continuing Education in University College Cork,
Pathways programmes aim to provide high quality education that meets the learning needs
of officers at all levels within the credit union.
Pathways consists of six accredited programmes. The programmes form a development
path of four stages, each of which is designed to meet specific learning needs associated
with each stage of an officer’s development within their role in the credit union. The
Diploma in Credit Union Governance/Operations is the second stage on the pathway and is
placed at Level 7 on the National Qualification Network (http://www.nfq.ie/nfq/en/).
Pathways provides the necessary learning supports to ensure that each officer has the
practical knowledge and skills to carry out their role in a responsible and effective manner.
Depending on the students’ role in the credit union, participants will choose the governance
stream (e.g. directors, supervisors, committee members) or the operations stream (e.g.
manager, teller, loans officers, credit controllers, administrators). Each stream is tailored to
suit the particular functions within the credit union.
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2. The Diploma in Credit Union Governance and the
Diploma in Credit Union Operations
The Diploma is designed for those officers who have achieved their Certificate and wish to
advance their understanding of core areas of the credit union business. Again, the Diploma
includes two streams, each containing three modules, to ensure that officers gain the skills
and knowledge most relevant to their role. Each module is delivered through a combination
of tutorial, self-directed learning and online support.
The Central Bank of Ireland has recognised the Diploma in Credit Union Operations as a
recognised qualification under the Minimum Competency Code 2011 as it applies to credit
unions. Speaking about the Diploma, Bernard Sheridan, Director of Consumer Protection at
the Central Bank said: “We have recognised the Diploma in Credit Union Operations for the
purposes of the Minimum Competency Code 2011 as an appropriate qualification for those
in credit unions providing insurance mediation services. We see it as an important step
forward in providing credit union staff and volunteers with the opportunity to pursue a
qualification specific to the sector that will lead them on a path to further develop their
knowledge and competence. We would encourage all credit union staff involved in the sale
of insurance to avail of the opportunity to pursue this qualification.”
This booklet contains information on the Diploma in Credit Union Operations and the
Diploma in Credit Union Governance. It provides details of the content of each of the
Diploma modules, information on delivery, assessment, entry requirements, application
procedures and fees for the programmes. It also contains information on the Valerie Hand
Memorial Scholarship and where to get further information on the programmes.
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Diploma in Credit Union Governance – structure and content
The Diploma in Credit Union Governance is comprised of three ten-credit modules:
Module Code
FE2820
FE2821
FE2822
Module Title
Lending and Loan Recovery in Credit Unions
Compliance and Risk Management in Credit Unions
Strategic and Financial Management in Credit Unions
FE 2820 Lending and Loan Recovery in Credit Unions
Module Objective
The objective of this module is to give students a thorough understanding of the lending
and credit control principles and procedures in a credit union.
Learning Outcomes
On successful completion of this module, students should be able to:
Explain the key lending and credit control principles in a credit union;
Explain the types, functions and features of credit union credit (agreements)
services;
Describe the principles and processes of good advice and credit assessment practice;
Describe the principles and processes of good loan recovery practice
including advising members in arrears;
Describe the rights and obligations of (a) the member and (b) the credit
union in relation to credit agreements and loan recovery;
Describe APR and how interest is calculated on credit union loans;
Describe the member information which should be obtained and documented
before and after the loan application process;
Reflect on their practice and experiences of lending and credit control;
Apply appropriate communication skills in relation to lending assessment and
credit control in a credit union context.
FE 2821 Compliance and Risk Management in Credit Unions
Module Objective
The objective of this module is to explain the principles of compliance and risk
management in credit unions in Ireland to enable officers effectively oversee the
compliance and risk functions with the credit union.
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Learning Outcomes
On successful completion of this module, students should be able to:
Describe the legal and regulatory requirements for credit unions
Identify credit union compliance systems;
Identify the range of risks to which credit unions, as financial institutions,
are exposed and outline categories of risk;
Describe the risk management methods adopted by credit unions;
Describe the role of the board of directors in overseeing the risk and
compliance functions of the credit union;
Outline the role of internal audit and external audit in minimising risk;
Discuss the human reaction to risk and how this should be factored into the risk
management framework;
Conduct a risk audit;
Input into formulation of policies and controls to minimise risk.
FE 2822 Strategic and Financial Management in Credit Unions
Module Objective
To understand strategic and financial management to the extent that facilitates
meaningful input and participations in the strategic management process within credit
unions.
Module Content
On successful completion of this module, students should be able to:
Outline the major theories of strategic management;
Compare and contrast strategic management in conventional organisations with
strategic management in co-operatives and credit unions;
Describe and analyse strategic management functions in credit unions,
including planning, finance, implementation, control, leadership and
marketing;
Explain each stage in the strategic planning process;
Use financial information within the credit union to forecast, budget and
monitor performance when planning;
Explain the social performance measurement techniques applicable to credit unions;
Input into the development and implementation of a strategic plan within the credit
union.
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Diploma in Credit Union Operations – structure and content
The Diploma in Credit Union Operations is comprised of three ten-credit modules:
Module Code
FE2820
FE2823
FE2824
Module Title
Lending and Loan Recovery in Credit Unions
Regulation and Compliance in Credit Unions
Credit Union Insurance
FE 2820 Lending and Loan Recovery in Credit Unions
Module Objective
The objective of this module is to give credit union officers a thorough understanding of the
lending and credit control principles and procedures in a credit union.
Learning Outcomes
On successful completion of this module, students should be able to:
Explain the key lending and credit control principles in a credit union;
Explain the types, functions and features of credit union credit (agreements)
services;
Describe the principles and processes of good advice and credit assessment practice;
Describe the principles and processes of good loan recovery practice
including advising members in arrears;
Describe the rights and obligations of (a) the member and (b) the credit
union in relation to credit agreements and loan recovery;
Describe APR and how interest is calculated on credit union loans;
Describe the member information which should be obtained and documented
before and after the loan application process;
Reflect on their practice and experiences of lending and credit control;
Apply appropriate communication skills in relation to lending assessment and
credit control in a credit union context.
FE 2823 Regulation and Compliance in Credit Unions
Module Objective
The objective of this module is to explain the principles of regulation and compliance systems in
the provision of credit union services in Ireland in order to deliver services to members in a
compliant manner and to effectively input into the compliance functions within the credit union.
Learning Outcomes
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On successful completion of this module, students should be able to:
Explain the legal and regulatory framework for credit unions in Ireland;
Explain the underlying principles of contracts and agency in the context of financial
services;
Outline the legislative and regulatory requirements for credit unions in relation to
lending, loan recovery and savings;
Describe the taxation implications for members of credit union savings;
Outline the legislative and regulatory requirements for credit unions in the
processing of personal data of members;
Outline the legislative and regulatory requirements for credit unions in the
prevention of money laundering and terrorist financing;
Outline the regulatory requirements for credit unions and associated statutory
bodies in the provision of general financial advice and services to members;
Describe the compliance systems adopted by the credit union and conduct a
compliance audit in the credit union;
Input into the formulation of systems to ensure compliance in the credit union.
FE 2824 Credit Union Insurance
Module Objective
The aim of this module is to give credit union personnel a comprehensive knowledge of credit
union insurance products and the related legal and regulatory requirements and to o enable
credit union personnel to give advice to members on credit union insurance products.
Learning Outcomes
On successful completion of this module, students should be able to:
Describe the principles of insurance;
Define the legal and regulatory requirements of officers in the provision of
advice and selling of insurance;
Explain the features of credit union insurance products available to individual
members and to individual credit unions;
Explain the features of insurance documentation and policies;
Describe the process of insurance underwriting and claims processing;
Conduct appraisals of members' insurance needs and available insurance products
including PPI;
Advise members appropriately and objectively on credit union insurance products;
Describe contractual and risk management considerations for insurance sellers.
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3. Programme Delivery
Credit union studies are ideally suited to a flexible blended format that can be integrated
with students’ own work and experience. Modules on the Diploma are delivered using this
approach which combines self-directed study, classroom-based tutorials and on-line
support. Each Pathways Diploma requires participants to complete three modules over 9
months (one module per 12 weeks). There will be a defined timetable based on the need
to only teach modules once in an academic year and to provide academic progression to
students.
Students who cannot commence on the official commencement date will be allowed to take
modules on an individual basis subject to satisfying the programme entry requirements and
provided that the student can be accommodated on the module. A student who
successfully completes and passes a module on this basis will be eligible for exemption from
that module if he/she subsequently takes the Diploma within 3 years of successful
completion of the module.
Each module comprises the following:
Module Text
A high-quality learning manual will be provided to students. Students will be required to
study the text before attendance at tutorials which will deal with areas of difficulty in the
module and facilitate discussion and the sharing of experiences amongst students. Advice
on completion of assignments will also be provided at the tutorials.
Tutorial
There will be one tutorial per module led by a qualified tutor (approximately at the end of
July/beginning of August; end of November; end of February, 2014). The tutorials will take
place in 12 venues around the country (subject to numbers). A provisional list of venues is
as follows:
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
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
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Bagenalstown,
Dublin North,
Dublin Central,
Dublin West,
Dundalk,
Castlerea,
Cork,
Letterkenny,
Limerick,
Mullingar,
Portlaoise
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 Waterford
Students should indicate their venue of choice on their application form and whilst students
may attend a different venue a minimum of three weeks’ notice must be given. It may not
be possible to accommodate the request for the alternate venue of choice as the venue may
be full. The tutorials will run from 9.30am to 4.30pm and a light lunch will be provided.
Online Learning and Support
Module support is delivered online via Blackboard (UCC’s Learning Management System)
which provides access to programme web pages. Blackboard will contain general
programme information as well as study resources, the means to submit assignments and a
link to a Diploma discussion forum. Throughout the programme on-line support is available
by means of an e-tutor system whereby students post queries and comments to the
discussion forum replied to by the e-tutor. Participation on the discussion forum will be
voluntary but students are encouraged to make use of it.
Access to the internet is therefore required in order to study for this programme and access
to a fast, non dial-up connection is required at times, for example for completion of the
online assessment (see below).
The programme curriculum, contents and materials will be evaluated and updated annually.
Obtaining feedback from students will be an essential part of the programme.
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4. Assessment
The Diploma programme is assessed by continuous assessment including:

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essay assignments
online multiple choice question (MCQ)
work-based assignments
practical case studies
scenario-based assignments.
There are no end-of-year written examinations. Students will be required to complete one
timed on-line MCQ assessment per module. Full details will be provided on registration.
All modules carry the same total amount of marks. The pass standard for each module is
50%.
It will be necessary for students to have access to a computer in order to produce their
coursework assessments. Students will submit coursework online through Blackboard.
Guidelines for submission and use of Blackboard will be supplied on registration. Students
may wish to explore the possibility of completing the MCQ assessment in a location with a
good internet connection if they do not have one in their own home/credit union.
Study Time
Students frequently ask how long they should spend studying each subject area. Each tencredit module represents between 200-300 hours of study effort. This includes reading and
studying the module text, attendance at class, on-line work, additional reading and selfdirected work. You may find that you progress through some modules more quickly than
others as you may already be familiar with the topic, others you may need to spend more
time on. Ultimately, the total amount of time spent on each module will vary between
students based on their needs, interests and previous experience.
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5. Entry requirements
Applicants will normally be required to hold a Certificate in Credit Union
Governance/Operations (NFQ Level 6, Minor award).
Exemptions may apply if you have already successfully completed a relevant course.
schedule of exemptions is attached. Application forms for exemptions are available at
A
http://www.ucc.ie/en/ace-dcuop/
Admission procedures and further information
An application form can be downloaded from http://www.ucc.ie/en/ace-dcuop/
or from Dr. Linda Foley (see contact details below).
Fees
Exemption
Modular
Cost
Student with no exemptions
Student undertakes all three
€1,260
modules in one academic
(€1,020 + registration fee of
year
€240)
Student approved for an
Student undertakes two
€920
exemption from one module
modules in one academic
(€680 + registration fee of
year
€240)
Student approved for
Student undertakes one
€580
exemptions from two
module in one academic
(€340 + registration fee of
modules
year
€240)
Further Information
For further information on any aspect of the programme, please contact: Dr. Linda Foley,
Programme Co-ordinator, Credit Union Studies, Centre for Adult and Continuing Education,
UCC, The Laurels, Western Road, Cork City
Tel. no: 353 (0)21 4904736
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E-mail: linda.foley@ucc.ie
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Schedule of Exemptions**
Please find below a list of qualifications which have been assessed for modular exemptions
from the Pathways qualifications. Please note that the onus is on the individual student to
submit an application for exemption and supporting documentation prior to the
commencement of the programme. An exemption can only be granted by UCC and a student
cannot presume to have been granted the exemption until receiving written confirmation
from the University.
Exemptions
Certificate in Credit Union Governance
Qualification
FE 1820
CU Ethos,
Structure & Core
Activities
FE 1821
The Legal &
Regulatory
Framework for CUs
ACCUP
Exemption
No Exemption
No Exemption
Exemption
Exemption
FE 1822
Principles of
CU
Governance &
Finance
Exemption
Exemption
No Exemption
No Exemption
No Exemption
No Exemption
Exemption
FE1820
CU Ethos,
Structure & Core
Activities
Exemption
No Exemption
No Exemption
Exemption
FE 1821
The Legal &
Regulatory
Framework for CUs
Exemption
FE 1823
CU Operations
& Controls
Exemption
No Exemption
No Exemption
No Exemption
No Exemption
No Exemption
Qualification
FE 2820
Lending & Loan
Recovery for
Credit Unions
FE 2821
Compliance & Risk
Management in
CUs
ACCUP
Exemption
Exemption
Exemption
No Exemption
No Exemption
No Exemption
FE 2822
Strategic &
Financial
Management
in CUs
No Exemption
Exemption
No Exemption
No Exemption
No Exemption
Exemption
No Exemption
No Exemption
Exemption
CUA and/or CUG (2012 onwards)*
QFA
Diploma in Credit Union Studies
Certificate in Credit Union Operations
Qualification
ACCUP
CUA and/or CUG (2012 onwards)*
QFA
Diploma in Credit Union Studies
Diploma in Credit Union Governance
CUA (2012 onwards)*
CUG (2012 onwards)*
QFA (2012 onwards)
Diploma in Credit Union Studies
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University College Cork
Diploma in Credit Union Operations
Qualification
ACCUP
CUA (2012 onwards)*
CUG (2012 onwards)*
QFA (2012 onwards)
Diploma in Credit Union Studies
FE 2820
Lending & Loan
Recovery in CUs
Exemption
Exemption
Exemption
No Exemption
No Exemption
FE 2821
Regulation &
Compliance in CUs
No Exemption
FE 2824
CU Insurance
Exemption
No Exemption
Exemption
No Exemption
No Exemption
No Exemption
No Exemption
No Exemption
No Exemption
All other requests for exemptions will be dealt with on a case by case basis
*Exemptions can only be given to the 2012 revised module - Credit Union Practices of the CUA / CUG
** All exemptions are subject to the approval of the UCC Board of Studies
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6. The Valerie Hand Memorial Scholarship
The Valerie Hand Memorial Scholarship is offered by the ESB Staff Credit Union (St.
Patrick’s), in association with the Centre for Co-operative Studies, University College Cork,
and CU Learning & Development, Irish League of Credit Unions. The scholarship is to
remember and celebrate the life of Valerie Hand, a much-loved credit union staff member
at St. Patrick’s, who passed away prematurely in 2012.
The scholarship will be open to applications from anyone involved in a credit union
throughout the island of Ireland in a voluntary or paid capacity and who meets the entry
requirements of the UCC-ILCU Accredited Learning Pathway for Credit Unions (Pathways
Programme). The applicants will be judged on the applicant’s written statement on their
suitability for and expected benefits from completing the Pathways Programme and an
interview by an expert panel.
The successful applicant will receive a scholarship equivalent to the full cost of fees (up to a
maximum of €3,000 per annum) for the Certificate in Credit Union Operations or Credit
Union Governance and/or the Diploma in Credit Union Operations or Credit Union
Governance, and the BSc in Credit Union Business, where the candidate meets the entry
requirements for each programme. Continuing support to masters and PhD levels may also
be considered where appropriate.
Applicants are advised to familiarise themselves with the Pathways programme content and
delivery format. Further details can be accessed at http://www.creditunion.ie/pathways/.
Potential applicants should complete a scholarship application form and an applicant’s
statement. Applications should be submitted by the 1st July 2013. Application forms are
available on request.
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