The Teens & Money survey by the Irish League of Credit Unions shows that 80 per cent of teenagers worry about the costs associated with third level education.
the final 2012 ‘What’s Left’ tracker series conducted by the Irish league of Credit Unions shows 61% of people have €100 or less left at the end of the month once essential bills are paid.
Only two out of five of us will be able to get through Christmas just on our regular income – although credit card use is set to drop, according to Irish credit unions.
The Finance Minister has said recommendations made by the Commission on Credit Unions will inform Government policy on credit unions for the “foreseeable future”.
The Consumers’ Association of Ireland has said there aren’t enough financial institutions in the market competing to provide better deals for consumers.
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The latest Disposable Income Tracker by the Irish League of Credit Unions shows families’ concerns over making ends meet and heating their homes this winter.
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Disposable income index shows that half of Irish people don’t feel able to save regularly – and increasing numbers of working adults are left without spare cash after essentials paid for.
The Commission on Credit Unions will also recommend the most effective regulation of branches. It has been warned that 80 of the institutions could face closure because of unpaid loans.
A SURVEY OF IRISH credit unions shows that the vast majority – 90% – Â of branches believe an image change is in order if they are to attract new customers.
The same percentage also said they also wanted a change of leadership in the sector.
The results of the independent survey were announced today at a credit union conference in Dublin, which was attended by members from all over Ireland.
Members also supported greater branch-to-branch cooperation, and even mergers. In May, the registrar of credit unions told an Oireachtas Committee that some credit uinions may not be able to continue as individual entities if they are facing serious funding issues.
90% of members also said they were optimistic about the future of the sector.
CREDIT UNIONS are the next financial institutions to be examined by the Central Bank and the Financial Regulator. Minsiter Lenihan requested the review of the credit unions to identify the laws and regulation required for the sector.
The first phase of the review will focus on the finances and risk profiles of credit unions across Ireland.
A joint statement from the Central Bank and the Financial Regulator today said:
In the current challenging economic environment it is important in the interest of members and the sector as a whole that there is a strong and healthy credit union sector.
They said that “strong leadership” of the credit unions will be necessary for steering them through “these uncertain times.”
There are over 500 credit unions with 2.9 million members in Ireland, according to the Irish League of Credit Unions.
