What is ISIS?

It is an integrated computer system which would link all member credit unions in Ireland and enable them to provide a broad range of financial services including ATM machines, multiple accounts and electronic funds transfer.

What is the controversy?

Some 19 member unions have strongly opposed the way the ISIS system has been funded and have threatened legal action which could potentially split the entire movement. To make things worse a cost overrun of almost £30 million has been projected by financial consultants.

What does yesterday's vote mean?

The review motion passed at the special general meeting delays a final decision on whether to implement the system until October. This will enable the League Board to conduct a charm offensive among member unions to garner support for the plan.

When could it be up and running?

Phase one involves a pilot project in Balbriggan Credit Union which is due to begin on August 28th. Another pilot will be established in St Bernadette's Credit Union in Limerick. Phase two of the project requires another vote by union members.