Credit unions are to begin offering members online car insurance. 

The initiative was announced at the Irish League of Credit Unions AGM in Belfast today by Irish League of Credit Unions' President Martin Sisk.

He told delegates that the ILCU will be teaming up with AIG Europe insurance company.

He predicted that very competitive car insurance rates will be on offer to credit union members.

ILCU Chief Executive Kieron Brennan said research carried out for the organisation showed a high volume of switching activity in the car insurance market. 

Six out of ten motorists explored switching car insurance in the past 12 months in an effort to reduce motor related costs.

Mr Brennan said consumers are always on the hunt for the best value in terms of their insurance cover.

In recent months credit unions have begun offering travel insurance cover to their members.

It was also announced today that the World Congress of the Credit Union movement will be held in Belfast in 2016.