Credit Union President says they want to help in recovery from Covid-19

Credit Unions are calling on the government to make the movement a key player in the national economic recovery from Covid 19.

Ballyleague’s Gerry Thompson, who is President of the ILCU says reforms promised in the Programme for Government need to be followed up by legislation immediately, to reduce in capital reserving requirements in line with international norms.

Mr Thomspon says this would allow individual branches expand their mortgage and business lending services and allow the movement invest in national community infrastructure projects as key priorities.

In a report published today, the ILCU says it can provide up to €900 million finance for social housing and fund the retrofitting of over 500,000 older homes by 2030 as promised.

Gerry Thompson says they have the finance and are simply waiting on the government to take the next step.