Today is International Credit Union Day and the Irish League of Credit Unions claims it is now the leading source of social finance on the island of Ireland. It lends up to 12% of its funds in the form of social financial to individuals and communities.
There was 532 credit unions affiliated to the Irish League of Credit Unions with over 2.7 million members. The members have savings of almost €10 billion.
'Social Finance plays a vital role in Irish life,' commented Liam O'Dwyer, CEO of the Irish League of Credit Unions. 'The provision of social finance is very much in line with our credit union co-operative ethos and the international credit union practice of supporting the communities credit unions operate in,' he added.
The Irish League of Credit Unions in a member of the World Council of Credit Unions which has over 120 million members in 80 countries and assets of over €500 billion.
