The MPCAS Project is funded and underway thanks to the vision and support of Credit Unions committed to implementing current account services for their members. In addition, four more Boards have made applications to the Central Bank to get approval to offer MPCAS as an additional service. This brings the total to 39 Credit Unions collaborating as part of Payac Services CLG.

Interest in MPCAS continues to grow with further Credit Unions are expected to join Payac in the coming months. Payac’s objective is to maximise the levels of credit union participation to minimise costs and help credit unions gain a credible share of the current account market.

Michael Mc Hugh (Payac Chair) paid tribute to his fellow CU’s by stating:

“Members have been promised alternative banking services for many years.
It is time for all stakeholders to deliver on that promise and support Credit Union collaboration that is inclusive and covers the entire sector.”


Ref: Payac MPCAS Update Volume 1, Issue 3. January 2018