Statement from the ILCU re Department of Finance's Stabilisation Levy Consultation Paper

Media Release: 26 February 2014

A Spokesperson for the ILCU said:


“The ILCU notes today’s announcement by the Minister for Finance, Mr. Michael Noonan T.D. of a public consultation process around the possible introduction of a levy on credit unions to fund the provision of stabilisation support. ILCU further notes today’s release of a Consultation Paper on a proposed Stabilisation Levy. The contents of this paper will be carefully considered by the ILCU and its member credit unions. The ILCU operates its own internal stabilisation fund for affiliated credit unions called the Savings Protection Scheme (SPS.) The SPS has given stabilisation support to a small number of member credit unions over the years.”

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