Monday 23 October 2017

Perspective needed on health of our credit unions

Poor lending decisions were made by Newbridge Credit Union
Poor lending decisions were made by Newbridge Credit Union
Charlie Weston

Charlie Weston

Our taxpayer-rescued banks could learn a thing or two about getting their house in order from the little old credit unions.

The improvement in the financial performance of the 365 credit unions in the Republic that are members of the League of Credit Unions is not what you might expected if you had been listening to the dire warnings about the sector.

Over the last few years, during one of the most extreme financial downturns for any economy in the Western world, we were led to believe that up to 20 credit unions would collapse.

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