Credit union lobby group’s €100 million war chest

Credit union lobby group’s €100 million war chest

The body that represents most of Ireland’s credit unions will continue to build up its €108 million discretionary money pot despite new regulations, it confirmed last week.

The Irish League of Credit Unions (ILCU) has used the fund to prop up member branches in difficulty and for other purposes as it decides.

The fund, called the Savings Protection Scheme is built up through contributions from members and currently stands at €100 million. Last week the...

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