A final report by the Commission on Credit Unions has recommended that the sector be restructured on a voluntary basis through amalgamations and transfers.

ONE in seven credit unions failed to keep enough reserve cash to meet emergencies and loans worth over €1 billion are in arrears.

THE new Commission on Credit Unions will issue its recommendations for the long-term structure and regulation of the movement to Finance Minister, Michael Noonan in three months time, ahead of a more detailed report next March.