CEO says credit unions will take 10pc of Irish mortgages, and will lend to small builders
David Malone, CEO of the Irish League of Credit Unions. Photo: Gerry Mooney
Irish credit unions could soon be lending €1bn a year to Irish home buyers, in the process becoming a top-five player in the mortgage market, says David Malone, chief executive of the Irish League of Credit Unions (ILCU).
If he’s right, it will see the credit union movement – which collectively has a €7bn loan book but is also sitting on a €22bn war chest of members’ savings – will finally shake off its tag as the sleeping giant of the financial services sector.
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