Oireachtas Joint and Select Committees

Thursday, 11 December 2014

Public Accounts Committee

Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013

11:00 am

Mr. Patrick Casey:

There is a second type of lending restriction which is a maximum loan size per member. For those credit unions that have individual loan size restrictions, the vast majority of those can continue to lend significantly more than the average loan for the sector, which is just above €6,000. Therefore, about a dozen individual credit unions have lending restrictions which limit the amount they can lend to less than €10,000.