Monday 26 September 2016

Move to tackle moneylenders is launched

Published 27/11/2015 | 02:30

Junior minister Kevin Humphreys said 40 more credit unions were set to come on board within the next six months
Junior minister Kevin Humphreys said 40 more credit unions were set to come on board within the next six months

Credit unions are lining up to join up to a new State-backed scheme aimed at taking on the moneylenders.

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Some 26 credit unions are participating in the initial pilot phase of the new scheme.

Junior minister Kevin Humphreys said 40 more credit unions were set to come on board within the next six months. It is expected that there will be a one-day turnaround in loan applications.

The aim is to take on moneylenders. It is estimated that 400,000 people use their services when money is tight.

Irish Independent

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