Savings first for credit unions
By Simon Cunningham
SAVINGS at credit unions in Northern Ireland have exceeded £1 billion for the first time.
In an overview of figures ahead of announcing its year-end results, the Irish League of Credit Unions (ILCU) said the movement in the north had strengthened over the past 12 months.
Membership has increased to 442,000 with the loan book at the end of June showing £453 million in lending while savings rose by 5.4 per cent to £1.017bn.
It said there had been "marked drops in arrears and bad debts" over the year.