Credit unions call for commitment from by-election runners

CREDIT unions throughout county Wexford are asking those running in this month’s by-election to pledge their commitment to the movement.

In particular, the local Chapter 9 credit unions want assurances that the candidates will work to reverse recently imposed levy increases.

The Chapter’s member branches have called the candidates to a ‘ town hall styled’ meeting in the Talbot Hotel, Wexford, on Thursday, November 21, at 8 p.m..

A spokesperson for Chapter 9 said the credit unions involved have combined membership of over 100,000 people and assets exceeding €500m.

Recently, increases in the Central Bank Industry Funding levy were given the green light by the Minister for Finance, Paschal Donohoe TD, and the local credit unions argue that combined with levies already being paid – such as the Credit Institutions Resolution Fund – the move has increased pressure on their organisations.

Speaking about the forthcoming event, organiser and Chapter 9 Chairman, Joss O’Connor, said: ‘ The purpose of the event is to establish each of the candidates’ intentions with regards to the credit union movement.’

He said credit unions are the cornerstones of their local communities and provide access to affordable credit for many people.

The President of the Irish League of Credit Unions (ILCU), Gerry Thompson, will be in attendance on the evening along with ILCU and Chapter 9 directors.