Credit unions bail out borrowers

PEOPLE in debt to other financial institutions are turning to credit unions to bail them out, according to John O'Regan, president of the Irish League of Credit Unions.

Mr O'Regan, who will address the AGM of the credit union movement today, said the economic slowdown can be felt in branches countrywide.

He said demands for loans were on the increase, with members coming under pressure to honour loan commitments.