27 February 2026
By Valerie Ryan
valerie@TheCork.ie
First South Credit Union today welcomed the Tánaiste and Minister for Finance, Simon Harris TD, to their offices in South Mall Cork.
This was the first official visit by the Tánaiste to a credit union in his role as Minister for Finance. He used the occasion to discuss the important role played by credit unions in providing competition to the retail banking sector. This visit coincides with “Mortgage Month” where First South Credit Union is promoting its fixed and variable rate mortgage products to its 40,000 members.
Pictured (L/R): Senator Garret Kelleher, Jerry Buttimer, Minister of State for Charities, Gaeltacht and the Islands & Rural Transport, Marc Power (CEO of First South Credit Union), Margaret Canty (First South Credit Union), Carmel Murphy (First South Credit Union),Union), Donal Scannell (Chairperson of First South Credit Union) and Colm Burke, TD
Photo: Colm Lougheed
Pictured (L/R): Marc Power (CEO of First South Credit Union), Donal scannell (Chairperson of First South Credit Union), Tánaiste and Minister for Finance, Simon Harris TD and Colm Burke, TD
Photo: Colm Lougheed
While in Cork, the Tánaiste discussed issues facing the credit union sector such as the need for a sector strategy to leverage the credit union sector’s strengths and the recent opportunities presented to it by the Credit Union (Amendment) Act 2023 and the amended credit union lending Regulations.
During the visit, the Tánaiste met with board members, management and staff to hear first-hand about the challenges and opportunities facing community-based financial institutions, and the vital role credit unions play in supporting local economies.
Tánaiste Simon Harris commented, “I know the impact credit unions have in communities and as Minister for Finance, I welcome competition that allows more choice for borrowers. I am delighted to hear that the overall credit union mortgage book is approaching €1 billion. The recent changes to the lending capacity of credit unions provides an opportunity for the sector to support more communities throughout Ireland. It was great to be hosted by First South Credit Union to see first-hand the important work credit unions do supporting their local communities.”
Marc Power, CEO of First South Credit Union, said, “We are honoured to host the Tánaiste and to have the opportunity to discuss how the sector strategy and recent legislative and regulatory changes can enable credit unions to better serve our members and communities while maintaining financial stability.”