Consolidation of credit unions continues apace

The consolidation of credit unions continues apace, with Dublin, Cork, and Galway having five or more with assets of at least €100m, the Central Bank’s latest financial health report reveals.

The number of credit unions has fallen to 241 from 406 at the height of the financial crisis in 2011, the report says, with the contraction particularly marked for credit unions holding less than €40m in assets.