Your professional advocates since 1927

Credit Union Law

In a period where the Credit Union Sector is undergoing significant change, we have a dedicated Credit Union team who have developed an expertise and specialism in the area of Credit Union Law.

We understand that many Credit Unions are faced with huge uncertainty as to what lies ahead and wish to make any transition which may have to be made by their Credit Union in as seamless a manner as possible. with vast experience of the legislative framework applying to Credit Union, restructuring, insolvency, securitisation and compliance, we are ideally placed to ensure that all of the legal issues arising from such a process are dealt with effectively affording your members protection at all times.

Our goal is to provide Credit Unions with a new outlook on the legal problems facing them in the increasingly difficult and regulated world of financial services and we provide the following services;


Credit Union Mergers

Credit Union Transfer of Engagements

Legal Due Diligence preparation and advice

Confidentiality Agreements

Advising your Credit Union through the Merger/Transfer process from start to completion

Involuntary Restructuring

Advices on Special Managements Orders and Transfer Orders


The maintenance of a strong, vibrant and cooperative work force is of paramount importance in Credit Union and we provide an extensive service in the following areas:

Full Employment Law audit to NERA (National Employment Rights Authority) standard

Explanation of the law in relation to dismissal, redundancy and staff reorganisation

Advice on the obligation of Credit Unions and rights of employees under the Protection of Employees Transfer of Undertaking Regulations 2003

Post Merger Employment Law considerations

Examination of your recruitment policies

Carry out Pensions Due Diligence

Advise on employment law due diligence issues arising on a merger or transfer of engagements to include an in depth review of a) Contracts of Employment, b) Policies and Procedures & c) Compliance for the purpose of NERA


The Commission on Credit Unions had endorsed Shared Service Arrangements as being a viable mechanism for increasing economies of scale. We provide advice on the establishment of various Shared Service Structures and draft Agreements tailored to your needs.


Advisory service on corporate governance and compliance with legislation

Audit on governance policies and procedures

Formulation of organisational and structural policy

Formulation of policies for implementation of Credit Union Commission’s Governance recommendations

Drafting of Compliance Manual and oversight of Compliance Function


Securitisation reviews

Registration of charges

Enforcement of security

Securitisation procedures and documentation


Professional Negligence Claims

Claims arising from losses incurred on Financial Investments

Class Actions


Our dedicated Credit Union team offer tailor made on-site training workshops in your Credit Union. These workshops can be tailored specifically to your requirements and can be provided to all levels of your Credit Union structure, from general employees to Board of Directors. Our on-site workshops may cover the following: -

Explanation and analysis of the employee Due Diligence process

Review of the law relating to staff consultation and staff reorganisation

Provide training for Management and Board of Directors on Insolvency Law

Provide in house training for your Merger Team encompassing pre and post-merger employment considerations

A walk through the new regulatory regime

If your Credit Union has an interest in a particular area or if you wish to arrange on-site training for your Credit Union then please contact: Michael Powell ( or Natasha Murphy (

Michael Powell Solicitors

5 Lapps Quay,
Cork City,
Co Cork.

Eircode: T12 RW7D

Telephone: 021 427 0451





Travelling in the city centre direction on Andersons Quay, go through 1st set of lights (Penrose Wharf on right) at Michael Collins Bridge. Transfer into left lane and at the next set of traffic lights, bear left. Cross the Brian Boru Bridge (wrought iron structure) and go through two more set of lights and it is situated opposite the Clayton Hotel.

We are strategically located in the central business district in the heart of Cork city & opposite the inspired architecture of City Hall. There is on street disc parking or the Clarion Hotel car park.