Report expected to reveal 50 credit unions in 'serious difficulty'

Around 50 of the country's 400 credit unions are in "serious difficulty".

It is understood the Interim Report of the Commission on Credit Unions, due to be published later today, will reveal that there are a number of individual credit unions with reserve ratio problems.

The report is also expected to find that overall the sector is strong enough.

Up to €1bn may be needed to shore up the problem, which would be given to the bigger credit unions who would in turn buy the smaller ones that have run into difficulty.