Credit Union review body recommendations in months

THE new Commission on Credit Unions will issue its recommendations for the long-term structure and regulation of the movement to Finance Minister, Michael Noonan in three months time, ahead of a more detailed report next March.

The Irish League of Credit Unions (ILCU) — the movement’s main representative body here — yesterday welcomed the Government’s move to establish the new review body, saying the country still needs a “strong and competitive” alternative to the banks.

The ILCU had requested the establishment of such a body and the Government yesterday announced the formation of the Commission.