Davy Stockbrokers has won the contract to provide investment advice and services to the Irish League of Credit Unions 426 member unions. The funds involved are under stood to be well in excess of £100 million. The service was previously provided by AIB Investment Managers. Davy won the contact after a tender process which started when the league sought proposals from a number of investment advisers. The ILCU's offers a central investment management service (CIM) for affiliated credit unions through which each individual credit union can look for advice on how to invest its surplus funds. Surpluses arise when savings lodged by members exceed the loans paid out by the unions. This advisory service is of immense strategic important, according to an ILCU spokeswoman.