Credit union users ordered to pay €34m

OVER 2,000 judgments worth almost €34 million have been awarded against struggling credit union customers who have failed to repay outstanding loans since 2008, but this is just the “tip of the iceberg”, it has been warned.

Figures provided to the Irish Examiner by Vision-net.ie show that since 2008, credit unions have taken more and more cases to pursue hundreds of customers for non-payment of debts, year-on-year.

However, they are getting little satisfaction, with only eight repayments made since 2008, one of which came this year.