The theme of this chapter is the economic crisis at present and its weight in affecting the financial sector globally. The rationale for analysing this topic arrived from a quote by the Minister for Finance, where he articulated that it was deemed essential to thoroughly analyse how events in the banking sector contributed to the economic crisis. This would then provide a “fuller understanding of the root causes of the systemic failures” (Lenihan, 2010). As a result the author will be able to explore if the effects of the Irish crisis had a contagion effect on credit unions in Ireland.