Credit union arrears "unacceptably high" at 13%, Central Bank says

Regulator says 102 credit unions remain subject to lending restrictions, down from 199

1st February, 2016
Credit union arrears remain "unacceptably high" at 13% Pic: RollingNews.ie

Credit union arrears remain "unacceptably high" at 13 per cent and a recent increase in new lending volume disguises a continued downward trend in the number of new loans, the registrar of credit unions, Anne Marie McKiernan, said.

Addressing the annual meeting of the Credit Union Development Association at the weekend, McKiernan said that credit unions have seen improvements in some areas including growth in new lending volumes, a continued fall in arrears and a fall...

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