PCF Assessment for Credit Unions

Note: The information on this page applies to the Credit Union sector only. Find the information for your sector.

Pre-approval

Credit unions must seek the prior approval of the Central Bank before appointing/electing an individual to a PCF.  The Individual must complete an online Individual Questionnaire (IQ) which is endorsed by the proposing credit union and then submitted electronically to the Central Bank for assessment. 

A credit union must not offer to appoint an individual to perform a PCF until the Central Bank has approved the appointment in writing.

The IQ must be completed online and can be accessed through the Central Bank's Online Reporting System ("ONR")

The individual may be called to attend an interview with the Central Bank as part of the assessment process. Further details on the interview process are available in our Fitness and Probity Interview Guide.

Access to the Online Reporting System

Credit unions that currently have access to the ONR will require access to the Fitness and Probity returns. If you do not currently have access to these returns, please complete the form below and email to rcuinternalnotification@centralbank.ie.

Fitness and Probity Business Administrator Setup Request Form (Attached to Email) | pdf 484 KB

The Fitness and Probity Business Administrator must be one of the following:

  • the chair of the board of directors;
  • the manager; or
  • the chair of the nomination committee.

The ONR User Manual provides further information in relation to the ONR System including the different ONR account types and important security information.

IQ Process

  1. The proposing credit union will provide the applicant with a user name and password, which the applicant uses to log into ONR. 
  2. Once logged in, the applicant will have the option to start a new IQ application.
  3. The IQ is completed online by an applicant seeking to perform one or more PCFs. 
  4. Once completed, the IQ is submitted by the applicant to the proposing credit union. 
  5. An appropriate person (as specified in the IQ Application Guidance for Credit Unions) in the proposing credit union will review the IQ, complete a declaration on behalf of the proposing credit union and submit the IQ application to the Central Bank for assessment.

The IQ comprises of the 12 sections, some of which may not be relevant to an applicant, depending on their personal circumstances. 

Please refer to the following Guidance documents for further information. 

IQ Application Guidance for Credit Unions | pdf 1376 KB ONR Quick Start Guide (Proposer) | pdf 1184 KB ONR Quick Start Guide (Applicant) | pdf 748 KB Individual Questionnaire for Credit Unions Template | pdf 1136 KB

Videos

The videos below will assist both the applicant and the proposing entity to complete and then submit an IQ to the Central Bank.

Video 1 - Credit Union Sets Up User

If you can't watch the video below, watch it on our YouTube channel.

 Section 1 - Preliminary Questions

If you can't watch the video below, watch it on our YouTube channel.

 Section 2 - Applicant Personal Details

If you can't watch the video below, watch it on our YouTube channel.

 Section 3 - Professional and Other Relevant Experience

If you can't watch the video below, watch it on our YouTube channel.

 Section 4 - Grandfathering Minimum Competency Code

If you can't watch the video below, watch it on our YouTube channel.

 Section 4 - New Entrant Minimum Competency Code

If you can't watch the video below, watch it on our YouTube channel.

 Section 5 - Applicant Regulation and Character

If you can't watch the video below, watch it on our YouTube channel.

 Section 6 - Applicant Current and Previous Regulatory Appeals

If you can't watch the video below, watch it on our YouTube channel.

 Section 7 - Applicant Savings and Loans

If you can't watch the video below, watch it on our YouTube channel.

 Section 8 - Applicant Shareholdings

If you can't watch the video below, watch it on our YouTube channel.

 Section 9 - Non-Approved Director roles

If you can't watch the video below, watch it on our YouTube channel.

Section 10 - Supporting Documentation

If you can't watch the video below, watch it on our YouTube channel.

Section 11 - Applicant Declaration

If you can't watch the video below, watch it on our YouTube channel.

Section 12 - Credit Union Declaration

If you can't watch the video below, watch it on our YouTube channel.

How to export your information for your records and/or use for future IQ applications

If you can't watch the video below, watch it on our YouTube channel.

 How to import information into IQ application

If you can't watch the video below, watch it on our YouTube channel.

How to import information into IQ application

If you can't watch the video below, watch it on our YouTube channel.

How to import information into IQ application

If you can't watch the video below, watch it on our YouTube channel.