Credit unions win Supreme Court appeal on competition

IN a decision with far- reaching implications for credit unions in Ireland and in the North, the Irish League of Credit Unions (ILCU) has won its Supreme Court appeal against claims by the Competition Authority that some of its activities are anti-competitive.

The five-judge Supreme Court yesterday overturned a High Court finding that the ILCU had abused an alleged dominant position in alleged distinct markets for credit union representation and savings protection.

The authority had claimed the ILCU abused an alleged dominant position in the market for savings protection by tying access to that service to ILCU membership.