The Financial Accountability of Irish Credit Unions: an initial empirical study

Credit unions are member-owned, voluntary, self-help, democratic, not-for-profit institutions that provide financial services to their members. They have both economic and social goals. Over this last decade they have achieved remarkable growth levels and currently there are 600 such organisations in Ireland, with approximately 50 per cent of the adult population of Ireland belonging to a credit union. Accounting for credit unions is a much-neglected area and relatively little is known about the sector's accountability. This paper presents the results of an initial empirical study of the financial accountability of Irish credit unions. A series of interviews and a basic content analysis of 178 recent financial statements were used to identify the views of key stakeholders with respect to the discharge of financial accountability by credit unions and the current quality of financial reporting. Overall, the research points to a sector where financial accountability through the medium of the annual report is weak and possible adverse consequences of this are explored. On the basis of the interviews it is suggested that if changes in financial accountability are to be achieved then some more proactive engagement of parties external to the management of individual credit unions is needed.

Surface plasmon polariton propagation length: A direct comparison using photon scanning tunneling microscopy and attenuated total reflection

The propagation of surface plasmon polaritons (SPP's) is studied using a photon scanning tunneling microscope (PSTM) and conventional attenuated total reflection (ATR). The PSTM experiment uses localized (focused beam) launching or SPP's at a wavelength of 632.8 nm. Propagation of the SPP is observed as an exponentially decaying tail beyond the launch site acid the 1/e propagation length is measured directly for a series of Ag films of different thicknesses. The ATR measurements are used to characterize the thin film optical and thickness parameters, revealing, notably, the presence of a contaminating adlayer of Ag2S of typical dielectric function, 8.7 + i2.7, and thickness 1-2 nm. Values of the SPP propagation length, based on the ATR- derived film parameters used in the four-media implicit SPP dispersion relation, show very good agreement with those based on the PSTM images for the case of undercoupled or optimally coupled SPP modes. The observed propagation lengths are quantitatively analyzed taking explicit account of additional intrinsic damping due to the growth of the Ag2S layer and of reradiation of the SPP back into the prism outside the launch site. Finally, the PSTM images show excellent SPP beam confinement in the original propagation direction.