Credit unions and community in Ireland: Towards optimising the principle of social responsibility

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dc.contributor.author Power, Carol
dc.contributor.author O'Connor, Ray
dc.contributor.author McCarthy, Olive
dc.contributor.author Ward, Michael
dc.date.accessioned 2017-11-30T11:45:41Z
dc.date.available 2017-11-30T11:45:41Z
dc.date.issued 2012-10
dc.identifier.citation Power, C., O'Connor, R., McCarthy, O. and Ward, M. (2012) 'Credit unions and community in Ireland: Towards optimising the principle of social responsibility'. International Journal of Co-Operative Management, 6 (1), pp. 10-22. en
dc.identifier.volume 6 en
dc.identifier.issued 1 en
dc.identifier.startpage 10 en
dc.identifier.endpage 22 en
dc.identifier.issn 1741-4814
dc.identifier.uri http://hdl.handle.net/10468/5108
dc.description.abstract In Ireland, credit unions appeal to a broad socio-economic spectrum and have become integrated into the mainstream financial services market. As many credit unions seek to provide services comparable to conventional banking institutions, they risk eroding their distinctive co-operative ethos. A key differentiating characteristic of credit unions is concern for community and social responsibility. In a business climate where many consumers question the societal and/or environmental impact of businesses, credit unions enjoy a distinct competitive advantage. Despite this, the role of credit unions in promoting societal wellbeing has received limited attention in academic literature. In order to capitalise on its unique competitive advantage, and fulfil its objective of social responsibility, the credit union movement must develop approaches to optimising and assessing how it impacts on communities. Based on research conducted in 40 credit unions, this paper explores the key benefits accruing to communities through intentional and incidental societal impacts. It offers some suggestions for the range of instruments that credit unions can use to optimise the principle of social responsibility. It argues that the impact of credit unions on their communities cannot be left to chance but requires management through the identification and definition of social goals and through periodic assessment of the credit union's success in meeting its targets. en
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.publisher New Harmony Press Ltd.
dc.relation.uri http://www.newharmonypress.coop/journals-2/
dc.rights © New Harmony Press Ltd 2012 en
dc.subject Credit Unions en
dc.subject Community en
dc.subject Social responsibility en
dc.subject Irish Credit Union movement en
dc.title Credit unions and community in Ireland: Towards optimising the principle of social responsibility en
dc.type Article (peer-reviewed) en
dc.internal.authorcontactother Olive McCarthy, Food Business & Development, University College Cork, Cork, Ireland. +353-21-490-3000 Email: o.mccarthy@ucc.ie en
dc.internal.availability Full text available en
dc.date.updated 2017-11-30T11:37:42Z
dc.description.version Published Version en
dc.internal.rssid 116731589
dc.description.status Peer reviewed en
dc.identifier.journaltitle International Journal of Co-Operative Management en
dc.internal.copyrightchecked No !!CORA!! en
dc.internal.licenseacceptance Yes en
dc.internal.IRISemailaddress o.mccarthy@ucc.ie en
dc.internal.IRISemailaddress ray.oconnor@ucc.ie en


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