Noonan ‘kills rumours’ of halt to credit union loans

CHRISTMAS will not be cancelled for struggling families depending on credit union loans to get them through the festive season, Finance Minister Michael Noonan has pledged.

Mr Noonan hit out at “damaging rumours” that Government plans to pump up to €1bn into the money-lending organisations would mean an end to smaller transactions.

“Stories circulated that people would not be able to enjoy Christmas because the traditional temporary lending which they availed of from credit unions to pay for Santa Claus would not be available. It was reported that limits were so low credit unions would not be able to lend to the traditional creditors who sought loans at Christmas. That is not true,” he told the Dáil.