Credit unions offer €8bn in surplus funds to build social housing

Credit unions have more than €8bn in surplus funds which could be used to help address the social housing emergency, but have been prevented from doing so by the State, it was claimed yesterday.

Representatives of the country’s credit unions appeared before the Oireachtas finance committee and said they were “bewildered” at the continued failure by Finance Minister Michael Noonan or the Central Bank to listen to them.