Article: How credit unions are 'losing out' to banks.(BUSINESS)

Byline: Charlie Weston Personal Finance Editor

BANKS and other finance houses are increasingly taking business away from credit unions, new figures show.

The ability of the 435 credit unions in the Republic to grow their loan books has been hit hard by intense competition from banks and other lenders.

Despite maintaining a healthy share of the savings market, credit unions have seen a slight dip in the rate of growth in that area also.

Lending and savings are the core areas of activity for credit unions.

Chief executive of the Irish League of Credit Unions Liam O'Dwyer admitted: "We are falling behind on the lending side. Credit unions have had difficulty ...

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