Credit unions three times more popular than two top banks

Credit unions are three times more popular with people than two of the country's top banks - Bank of Ireland and AIB.

That is according to a survey carried out by the Irish League of Credit Unions which has also found that two thirds of Irish people now have a Credit Union account.

The study has also revealed that customers would like to see the financial institutions offering more products and services similar to those offered by banks.

Kieran Brennan, CEO with the ILCU said people now have more faith in credits unions than banks.

"Credit unions are perceived to be much stronger than other financial institutions and people see them as a very safe place for savings and loans," he said.