Credit union loans through Facebook

Up to 20% of loan applications in some credit unions are now coming through Facebook, a body representing the sector has said.

The Solution Centre in Dublin, which is managed by the Credit Union Development Association, said business with younger customers had “increased 10-fold” since it began introducing digital loan services.

Credit unions involved in the Solution Centre include Tullamore in Offaly, St Anthony’s and Claddagh in Galway, Dundrum in Dublin, as well as St Canice’s in Kilkenny, which is the biggest community credit union in the country.