credit union support services
Buckley Kiely & Co has a long association with credit unions, going back to the 1970’s! During this time we have witnessed first hand, the monumental changes that have occurred both within the movement as a whole and within individual credit unions.
The economic difficulties of recent years and the increase in appetite for regulation of the financial sector has resulted in the emergence of a whole new set of challenges for credit unions.
- Separation of duties of the Board – now required to stay removed from the day-to-day credit union operations
- Compliance & Risk Assessment requirements
- Strategic Planning requirements
- Complex, detailed financial reporting requirements to the Central Bank
- Decreasing funds – due to reducing loan books, member difficulties with loan repayments and reducing returns on investments
- Increasing costs – due to regulation, compliance and staffing requirements
A similar regulatory model to that applied to profit-making financial institutions is now being applied to voluntary-run credit unions, who have nowhere near the same level of resources available to them.
So, how can credit unions maintain the ethos of running community based locally-funded alternatives to the banking sector – financial services by the people for the people, while still complying with these demanding new regulations?
Buckley Kiely is offering credit unions a range of support services, providing them with the know-how, technical capabilities and expertise now required to meet their regulatory and compliance obligations.
Meeting regulatory requirements while maintaining the spirit & ethos of Credit Unions.
Our credit union support services include:
- Strategic Planning
- Risk Assessment & Risk Management
- Policies & Procedures
- Due Diligence & Mergers
- Marketing Support
- Internal Audit
- Health Check
- Management Information
- Training & Change Management
- Investment Advice
- Loan Book/Asset Reviews
- Credit Committee Work
- Tax Advisory
“Buckley Kiely first completed the annual audit for Millstreet Credit Union back in 1978 – so that’s nearly 40 years we’ve been using their audit services. This is testament to the superb quality of their work and the fact that the audit team are so pleasant to deal with. Buckley Kiely really understand credit unions, how we operate and the issues we often face. Buckley Kiely’s expertise and advice has been invaluable. We would have no hesitation in recommending them to fellow credit unions.”
– Millstreet Credit Union, Co. Cork
“Newmarket Credit Union first began working with Buckley Kiely in the 1970′s. They have provided us with a range of services including Loan Book Reviews, Management Accounts, Infrastructure Review, Implementation of Computerised Accounts and Report Design, none of which could have been achieved without their knowledge and dedication. They are always available at the end of the phone and we have built up a very good working relationship with their staff.”
– Newmarket Credit Union, Co. Cork
Buckley Kiely Credit Union Team
John Flynn // Partner
John, who joined the practice in 1996, has more than 25 years’ experience in accounts and audit and has completed a wide variety of assignments including the audit of credit unions. A Fellow of the Association of Chartered Accountants, John was admitted as a partner in 2004. In recent years John’s focus has been on expanding the Business Support division of the firm, providing systems and structure reviews and assisting clients in the development of their reporting systems. John has headed up a number of Independent Business Reviews (IBRs) both for banks and directly for business owners. Email John
Denis Crowley // Manager
Denis has over seventeen years’ experience in practice with thirteen years’ experience in the management of the provision of a full suite of practice services to a portfolio of approximately 150 clients comprising a wide variety of assignments across diverse industries. A Credit Union specialist with over fifteen years’ experience in the provision of a full range of assurance and non-assurance services to a variety of credit unions. In recent years, the focus has been on the provision of loan book review services and advising on the implementation of control systems and procedures. Email Denis
Andrew Moynihan // Manager
Andrew, who joined Buckley Kiely in January 2008, is a qualified Chartered Accountant. Andrew has worked in practice for over 20 years providing support and advice to small and medium enterprises. Andrew also has extensive experience in the audit of credit unions and solicitors. Email Andrew
Hilda O’Donovan // Management Consultant
Hilda has over 25 years’ experience implementing business procedures and controls for clients. She has extensive experience also in the areas of evaluating, completing reviews and providing advice on the systems of financial recording and controls, organisational systems and structures for clients in a variety of business sectors. A member of the Board of her own local credit union, Hilda brings in-depth knowledge and understanding from the credit unions perspective to the Credit Union Team. Email Hilda.
What clients say?
Cypress Semiconductor is headquartered in San Jose, California, the company has 7,100 employees worldwide serving more than 30,000 customers. Cypress delivers high-performance, high-quality solutions at the heart of today’s most advanced embedded systems, from automotive, industrial and networking platforms to highly interactive consumer and mobile devices. The Irish subsidiary of Cypress operates as a research […]read more
Sean Foley // Design Centre Manager, Cypress Semiconductor Ireland
Buckley Kiely was recommended to us [Entercoms – An Analytics and Operations Company Powering Aftermarket and Service Supply Chains] by the IDA when we were in discussions about locating to Ireland. From our initial contact we have built up a really good working relationship with various members of the team. They have provided us with […]read more
Prashant Keshri // Sr. Director Finance, Entercoms
Buckley Kiely have supported me in all areas from start-up stage all the way through since the very beginning of my journey. They have always been diligent, understanding and compassionate, irrespective of where in the world I’ve been, providing me with peace of mind, allowing me to seize opportunities without hesitation and do what I […]read more
I am very pleased with the levels of service and attention provided by Buckley Kiely to the financial affairs of Paciv Europe. In particular, I have been impressed by the recent handling of our tax return, the various options presented and the clarification provided in meetings to the financial management team, both in Cork and […]read more
Jorge L. Rodriguez // President & CEO, Paciv Europe Limited
The partnership with Seamus [Buckley Kiely & Co.], who was referred to me by my bank, began back in 1996 when I initially formed PCH International. In the early years Buckley Kiely fulfilled the role of managing the setup and administration of the company, enabling me to focus on business development and the relationship grew […]read more
Liam Casey // CEO, PCH International
Buckley Kiely & Co was recommended to me by an early investor and supporter of Trustev, as an accounting company that while being large enough to support our needs as we grow, would go the extra mile to assist us in the start-up phase. Buckley Kiely has been an invaluable partner to us at every […]read more
Pat Phelan // CEO, Trustev
Buckley Kiely helped me to transition from working for a larger company to start up my own business which is growing steadily thanks to support from Team BK. They take care of all aspects of my business and personal affairs ranging from; Accountancy, Tax, Pension Management through to Specialist Corporate advice. A true ”One Stop […]read more
Tom Ruddy // Thomar Consulting Limited
Newmarket Credit Union first began working with Buckley Kiely in the 1970’s. They have provided us with a range of services including Loan Book Reviews, Management Accounts, Infrastructure Review, Implementation of Computerised Accounts and Report Design, none of which could have been achieved without their knowledge and dedication. They are always available at the end […]read more
Newmarket Credit Union
Buckley Kiely first completed the annual audit for Millstreet Credit Union back in 1978 – so that’s nearly 40 years we’ve been using their audit services. This is testament to the superb quality of their work and the fact that the audit team are so pleasant to deal with. Buckley Kiely really understand credit unions, […]read more
Millstreet Credit Union
Liscarroll Engineering has been a Client of Buckley Kiely & Co for over 30 years. During this time they have carried out many varied financial services for us not least of which are the preparation of our annual audited accounts and taxation matters. Seamus and his team are always available for fast and immediate advice […]read more
Tim Brosnan // Managing Director, Liscarroll Engineering Ltd.
Buckley Kiely are a team of professional people who have supported and advised O’Donovan Engineering in all areas of both Business and Personal finance through our 23 years of business. A vital resource that has enabled our company not just in terms of compliancy, but has also ensured we are well positioned to make better decisions.read more
Marion O’Donovan // Strategic Director, O’Donovan Engineering Co. Ltd.
Buckley Kiely undertook a grant audit assignment relating to a major TV series project for RTE Cork. The level of preparation and attention to detail on this assignment was exemplary. The professional and efficient service supported a successful conclusion to the project. The assistance of Buckley Kiely meant that the project was brought in within […]read more
Brian O’Dwyer // Financial Director, RTE Cork
Buckley Kiely Accountants were referred to me by a business associate in 1997. BK has helped Toss Bryan produce management accounts, implement better procedures and controls and also supported us with issues such as recruitment or dealing with the banks – if they don’t have the expertise in-house they always know someone who does – […]read more
Tom Bryan // Owner & Managing Director, Toss Bryan
When my mother fell ill and I was appointed as Power of Attorney over her finances, I needed an independent adviser to help decide where to invest her money to ensure that there is always sufficient finance to pay for her care. I met Richard Fowler of Buckley Kiely Wealth Management who gave me great […]read more
Movies @ Dundrum Ltd appointed Buckley Kiely to carry out an internal review of the efficiency of its Accounts Department in 2011. Their work was carried out in a very professional and time efficient manner while at all times remaining sensitive to the potential concerns that such a review will raise for the personnel working […]read more
Karen Reid // Movies @ Dundrum
I was delighted with the analysis completed on my pension. It gave me the opportunity to make positive decisions in my life. It opened up many possibilities that I never knew I had, in fact, possibilities I thought I didn’t have or would ever have. It’s certainly worth having a consultation with Richard and Paul […]read more
Billy S. // Retired Bank Manager