Christmas puts a lot of pressure on hard pressed parents trying to give their families a holiday to remember and for some the celebrations can end in debt. In its Annual Christmas campaign and spending survey The Irish League of Credit Unions (ILCU) is urging the public to avoid borrowing beyond their means, and above all to avoid money lenders. Sean was joined by Kieron Brennan, CEO, Irish League of Credit Unions, talks about the movement post Newbridge and reports that up to a third of credit unions are considering merging but first, Chrismas spending and debt.
The takeover by the Central Bank of the credit union in Newbridge, County Kildare has led to fears that more credit unions around the country may be in trouble. And that in turn has led to fears that credit unions will find themselves being subjected to greater scrutiny and control by the central bank. Paddy O'Gorman has been meeting people attending a credit union office.