Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Ireland to recapitalize CUs with bank funds
DUBLIN, Ireland (10/11/11)--Ireland will provide up to one billion euros (about $1.376 billion) to recapitalize the country’s credit unions and save some from collapsing. Although some Irish credit unions are not having any difficulties, “others are on the brink of falling down a hole,” said Michael Noonan, Ireland’s finance minister (irish.examiner.com Oct. 7). The money is available in funds that were set aside for banks, but were not used, Noonan added. Therefore, the government would have to ask Ireland’s Exchequer for more recapitalization money for credit unions, the newspaper said. The recapitalizations would be done in phases, Noonan told the paper. Many of Ireland’s credit unions are expecting to be negatively impacted this year because the country’s financial regulator is pressing community lenders to value all of their assets-- including property--at market levels, credit union sources told the paper. Credit unions heavily invested in property during the country’s economic boom, the paper said.


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
1 Day ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
1 Day ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
1 Day ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
17 minutes ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
1 hours ago