Risk Management in Lithuanian and Irish Credit Unions: Trends and Impacts on Credit Union Development
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The aim of this article is to examine the Irish and Lithuanian credit union
movements in terms of risk management and risk performance, and to discuss
credit union risk regulation. Risk management in credit unions often
closely relates to credit union development stages so that as credit unions
mature, higher standards of risk management should be implemented. In
some cases these changes are accompanied by shifts in the regulatory
framework. A comparison of the situations in Lithuania and Ireland offers
some interesting and sometimes unexpected contrasts in the levels of credit
union regulation. Despite the comparatively advanced stage of development
of the Irish movement, key aspects of risk regulation are considerably more
lenient than in Lithuania, where the credit union movement is far smaller
and less developed, yet at the same time, more tightly regulated. This comparison
demonstrates that the regulatory regime is not always aligned with
the stage of credit union development and may, indeed, reflect the economic
policies of the country in which they operate.