Tuesday January 28, 2020

Savvi credit union‘s profits drop by more than half

Credit union also tells members that Central Bank fine in late 2019 was for legacy matters and it has overhauled its governance

Ian Guider

Markets Editor

5th January, 2020
Savvi’s profits fell from €766,000 to €261,000

Savvi, one of the biggest credit unions in the country which was hit by a Central Bank fine last year, has seen its profits drop by more than half, according to documents sent to its members over Christmas.

Savvi, which is made up of a number of different credit unions, including the ESB, Irish Times and Irish Independent, made a profit of €261,000 in the year to end of September last, down from €766,000 in...

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