Credit union loans could help housing crisis

Credit unions should be regulated based on their size, have a greater flexibility to issue loans, and be allowed provide lending to help alleviate the housing and homelessness crisis, according to a report from an Oireachtas committee.

The finance committee has published its report on the review of the credit union sector, and has issued a number of recommendations on the regulations surrounding credit unions and proposals for the sector’s long-term sustainability.

Committee chair John McGuinness (Fianna Fáil) said “the time is ripe to assess the wellbeing of the credit union sector and to review whether the measures put in place in the aftermath of the economic crisis remain appropriate”.