Submission proposes that the sector be able to lend in groups on larger transactions
With large players exiting, ‘niche’ is where competition may lie in future
SEAI said access to finance ‘can be a barrier’ to residential retrofitting as it approved fund
Deposits up 7% to €16.3bn in year to September
Association wants to ensure borrowers are not penalised for missing loan payments
Pilot scheme indicated users borrowed average of €10,000 for home improvement
Legislative change needed to allow credit unions lend to social housing bodies
Minister for Finance Paschal Donohoe looks to amend legislation to increase interest rate cap for credit unions
Registrar of credit unions also warns against rushing into mortgage lending
Sector has been agitating for some time to be allowed to expand lending for home loans
Review will look at whether to facilitate investment of members’ funds elsewhere
Central Bank set to soften rule which has raised the ire of the industry
Dail committee told that ‘one size, fits all’ governance won’t help sector grow
If sector becomes too like banking, it risks losing the identity that has made it a success
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