Credit union members will not see any negative impact on their credit record on temporary holiday or reduction on their loan repayments.
The credit union is making sure the welfare of vulnerable/cocooning members is prioritised at this time.
The Government has announced further restrictions for the Republic of Ireland as of midnight 27th March 2020.
The Minister for Finance and Public Expenditure & Reform, Paschal Donohoe TD had a teleconference meeting on Monday 23rd March with the ILCU and other representative bodies.
The ILCU has welcomed the announcement by Government that credit unions are considered an ‘essential retail outlet’ in the ongoing fight against COVID-19.
The ILCU is calling for a pragmatic and sympathetic regulatory approach to enable credit unions to offer flexible loan arrangements during this unprecedented crisis.
Update from the Irish League of Credit Unions in relation to COVID-19
The ILCU welcomes the CUAC report which calls for increased clarity, certainty and transparency from the Central Bank in its engagements with credit unions
Budding artists from the four corners of Ireland took the ‘Walk of Life’ to Croke Park today, Sunday 9th February, for the annual, All-Island Credit Union Art Competition.
An ILCU national survey has found over half of Irish credit card holders don’t know what interest rate they are paying.