In focus: The credit unions that have imposed savings limits - and how much
Credit unions across the country are imposing savings caps as interest rate squeeze tightens
Irish League of Credit Unions Headquarters on Mount Street in Dublin. Many credit unions have been forced to imposing savings caps on their members as a way of reducing their savings levels. Photograph: Frank Miller
It might sound strange but a surge in savings into the credit union sector is causing major problems, forcing many of the community lenders into imposing savings caps on their members as a way of reducing their savings levels.
Why is this happening and where does it leave their members?