Text Only | Irish Examiner

Deaths/In Memory
FRONT | IRELAND | SPORT | WORLD | BUSINESS

Average CU loan here double that in North

By Niamh Hennessy - Friday, March 12, 2010

THE average credit union loan in the Republic of Ireland, at €8,933, is double that in Northern Ireland.

The 2009 Irish League of Credit Unions (ILCU) annual results showed average loans in the Republic increased 1% last year and by 3% in the North.

The average borrowings in the Republic was significantly more than average savings per member, which were €4,026 in 2009.

Last year one in 10 credit unions did not pay a dividend to members as more than 90% of institutions delivered a surplus.

The report showed 70% of credit unions paid dividends to members of more than 1%, of these 27% paid more than 2%.

Total assets held by credit unions which are members of the ILCU grew by 1%.

ILCU president Mark Bailey said this year has proved "challenging and difficult" for all financial institutions but added that most credit unions are performing very well given the circumstances.

"We are actively managing our financial affairs in a conservative and prudent manner to minimise exposure to our members in these difficult times.

"In addition credit unions are taking measures to ensure sufficient reserves are held to guard against exposure should there be any further deterioration in the general economy."

He did admit however that the economic downturn has had an effect on the credit union movement.

"However we are satisfied that the credit union movement is safe, strong and secure, and continues to provide sustainable worthwhile financial services for our members countrywide.

"Unlike other financial institutions credit unions are still providing loans and are still offering credit to our existing members and are welcoming new members to the movement every day.

"Overall, the credit union movement is well constructed and positioned to withstand much of what is currently threatening the stability and viability of the banking sector," he said.

ILCU chief executive Kieron Brennan defended the movement, saying credit unions don’t borrow on the money markets looking to lend it on at a premium.

"We take in savings from our members and lend money to our members and do not seek to make a profit from it. And if we do generate a surplus we hand it back to our members in the form of a dividend," he said.

IRELAND
Ireland -

Neeson tops ‘love poll’ as perfect date

Crime -

Murder victim ‘found peace’ before his death

Crime -

Insurance firms breached data laws

Education -

Vieira tackles PE in Limerick school

Education -

Probe finds poor practices in VECs across country

Education -

Nine jailed for failing to send children to school

Education -

University criteria dismissed by college president

Health -

Healthcare centre ‘unaffected’ by examinership

Health -

Streamlining HSE chaplaincy spend could yield savings

Health -

Rugby fan dies in Stade de France

Health -

Verbal abuse ‘as damaging as violence’

Health -

Patients fitted with faulty hip implants to sue

Health -

Two-thirds of faulty hips were fitted in private hospitals

Health -

Public meeting gives thumbs down to HSE’s plan to cut hospital beds

Health -

Reilly: Humphreys’ autism comments ‘outrageous’

Politics -

Last-ditch attempt to save ferry service

Politics -

Record €95.7m in rates collected last year by local authority

Politics -

Ferguson advises Cortex workers to ‘stick it out’

Politics -

Gilmore denies secular crusade in Rome

Politics -

Concern over failure to tackle consumer issues

Politics -

Kenny vows to publish full progress report every quarter

Politics -

Savings from welfare fraud crackdown exceed targets

Politics -

Long-awaited plan met with a mixed reaction

Politics -

Coalition outlines plan for 100,000 jobs by 2016

WORLD - World -

Winning ticket worth $336.4m

World -

‘No influence for religion’

World -

Comeback kid wins record six Grammys

World -

Houston relative denies suicide rumour

World -

‘Rubbish relationship’ spun into gold

Crime -

Apple’s China factories to be investigated

Crime -

Deaf girl held as slave tells court of years of beatings and rape

Crime -

Bail agreed for radical cleric

Crime -

Judge bribery case quashed

Crime -

Billionaire and baron jailed over asbestos deaths

Crime -

‘Mindless train surfers’

Crime -

Deportation of rapist upheld

Crime -

Scotland Yard chief jailed

Crime -

Sun journalists ‘were treated like crime gang’

Health -

Father’s dying wish — to see unborn daughter

Health -

Man avoids jail for dog attack

Politics -

Israel accuses Hezbollah and Iran of attacks on diplomats

Politics -

Syria steps up Homs siege with ‘indiscriminate attack’

Politics -

Obama’s spend plan a ‘campaign document’

Politics -

Statue of Carla Bruni as a worker angers France

SPORT - Soccer -

Reds told they are not in the clear yet

Soccer -

Ballack blow for Leverkusen ahead of Barcelona clash

Soccer -

Death of former Villa and Galway star Deacy

Premiership -

Shoulder injury leaves Dunne dusted for eight weeks

Premiership -

Sorry the costliest word for axed Mick

Premiership -

Ward: There were a few emotional words in there

Premiership -

Alarm bells were ringing as far back as June

Premiership -

Vieira and Keane bury the hatchet

Premiership -

Tevez says Mancini treated him ‘like a dog’

Premiership -

Short-sighted Dalglish failed to see big picture

Scotland -

Rangers face uncertain future

Scotland -

Lawwell: We don’t need Old Firm rivals

David Shonfie -

Milan’s hopes rest on which Ibrahimovic shows up

Charlie Mulqu -

JP a winner despite slip up at the final hurdle

GAA -

Series can heal inter-county rifts

GAA -

Waterford’s resounding ‘no’ to pay for county managers

Football -

McConville: Players motivated by Crokes remarks

Football -

Honohan escapes cruciate curse

Football -

Kennelly to run rule over AFL hopefuls during Tallaght trial

Football -

Boylan wins out as Dublin league game switched

Football -

Bradley defends commitment to Derry

Hurling -

Fitzgerald reading little into win over Déise

Hurling -

Respect gained, now Antrim side want title

Hurling -

JBM lauds player dedication

Hurling -

Ardscoil Rís bar path as Nenagh bid to bridge 15-year Harty Cup final gap

Rugby -

Freeze was so easy to beat

Rugby -

French clubs delay decision on Paris return date

Rugby -

Ruddock raising the bar

Rugby -

Wales ‘in good place’ for Slam assault

Rugby -

Cooper blames ‘paralysis by analysis’ for Aussie fall

Rugby -

Paris farce set to hit provinces’ schedule

Racing -

National trial for Junior

Racing -

Morrison set for double delight

Racing -

Long Runheads Denman Chase entries

Racing -

Straight to Cheltenham for Binocular

Racing -

Angel unlikely to take chance in Gold Cup

Racing -

Magnanimity plans put on hold

Racing -

World Hurdle next on list for Voler La Vedette

Results -

BUSINESS - Business -

Shire bid could be standout deal of the year

Business -

Corrib project cost to top €3.2bn

Business -

Cloud computing centre has potential to save Government 50% of IT costs

Business -

Athens contorts for €130 billion carrot

Business -

Europe stocks rise on measures

Business -

Roaming cap costs Vodafone €400,000

Business -

Banks fear lending after ‘Ponzi’ property bubble, says Shatter

Business -

Central Bank to prioritise legislation on mortgage arrears

Business -

Apple shares pass $500 for first time

Business -

Nama lends €360m for British projects

Business -

Revenue monitors ‘phoenix’ firms

Business -

Print initiative to save millions

Agri-Business -

Sheep farmers advised to focus on their margins

Markets/Euro -

Market static after Greek events

OPINION - Opinion -

Measures all dressed up with nowhere to go

Opinion -

The Government’s latest action plan has jobs for everyone

Editorial -

Data protection laws - Breaches are intolerable

Editorial -

Job creation strategy - Plan lays out vision more than action

Letters -

Letters -

Irish rugby fans let down by treatment

Letters -

French ineptitude

Letters -

Enemy was inside government, not outside

Letters -

Health insurance ban

Letters -

Common sense on septic tanks urged

Letters -

Call for boycott of Israel unjust

Fergus Finlay -

Why man’s best friend should be allowed a hassle-free run on beach

Features -

Are they right for you?