{"id":81,"date":"2016-02-01T23:24:53","date_gmt":"2016-02-01T23:24:53","guid":{"rendered":"http:\/\/publicbankingalliance.ie\/?page_id=81"},"modified":"2016-02-15T16:01:57","modified_gmt":"2016-02-15T16:01:57","slug":"2-2","status":"publish","type":"page","link":"https:\/\/publicbankingalliance.ie\/?page_id=81","title":{"rendered":"Our Credit Unions"},"content":{"rendered":"

\"Credit<\/p>\n

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The CU situation in brief:<\/span><\/strong><\/p>\n

* Further restrictions are being put on the Credit Unions by Government and the Central Bank continuously to prevent them competing.<\/p>\n

* The CUs cannot survive under their current model.<\/p>\n

* Their funds of probably \u20ac7bn are by law held in the private banking system, returning just 0.9% return.<\/p>\n

* Lending is down over 50%.<\/p>\n

* They are the only form of \u00a0Social Credit System we have, but are not Banks. They have just a few percent of the market. They are excluded from the Payments System and restricted to prevent them from being any real competition to the Commercial Banks.<\/p>\n

* They currently are starting to fight back and not before time (They were warned by PBFI members of their plight in 2013). Let’s hope it is successful.<\/p>\n

The CUs could setup regional banks, take back their funds from the commercial banks (If there still there) and lend them for productive purposes in the communities.<\/strong><\/p>\n

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Credit Unions: An Endangered Species in Ireland\u2019s Blighted Banking Landscape?\u00a0<\/strong><\/span><\/h2>\n

by Joseph Glynn MSc.<\/p>\n

Credit Unions 2 – 2016<\/a><\/p>\n

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 <\/p>\n

The Irish League of Credit Unions has released a recent document <\/strong><\/span><\/p>\n

CREDIT UNIONS Six Strategic Steps Towards 2016<\/a><\/p>\n

The document addresses six key issues:<\/p>\n