Credit unions to maintain involvement in local communities

The Irish League of Credit Unions has vowed to maintain its commitment to local communities throughout the country.

The league’s chief executive, Liam O’Dwyer, said yesterday that he believed the success of the credit union movement in Ireland was largely due to its involvement in local communities.

Mr O'Dwyer said savings in credit unions had grown by 10% to €9bn in the past year.

He also predicted that credit unions would soon be the only locally-based financial services providers in many Irish towns and villages, with the large banks planning to close several rural branches in the near future.