Reliance on credit unions up

THOUSANDS of farmers are increasingly reliant on credit unions as they “develop and diversify” their operations, according to the Irish League of Credit Unions.

League president John O’Regan said rationalisation by the major banks would leave credit unions as the only source of readily-available finance in many small towns around the country.

Mr O’Regan was speaking at Mountmellick Credit Union in Co. Laois at the launch of the ILCU’s marketing initiative for next month’s National Ploughing Championships at Ballacolla.