Up to 95 credit unions may be forced to merge

Between 60 and 95 credit unions which fail financial stress tests conducted by the financial regulator may be forced into mergers.

8th October, 2011

Between 60 and 95 credit unions which fail financial stress tests conducted by the financial regulator may be forced into mergers.

Following the announcement last week by finance minister Michael Noonan that he is setting aside between €500 million and €1 billion to recapitalise credit unions, a raft of mergers is now on the cards.

The Financial Regulator is seeking a capital reserve threshold of 10 per cent, and is combining that target with an analysis of...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago