Credit unions loan €750m to customers

CREDIT UNIONS loaned three quarters of a billion euro last year to borrowers who couldn’t get the money they needed from banks.

Up to 12% of the voluntary movement’s business was generated by customers seeking loans at rates they could afford for financing community projects.

“This social financing makes much more projects possible for groups around the country and helps individual customers to improve their futures,” said Irish League of Credit Union’s (ILCU) chief executive Liam O’Dwyer.