Monday, December 14, 2015

New Credit Union small loan scheme to pilot in Meath

Fine Gael TD, Regina Doherty has said that borrowers in Meath will be able to access a new Credit Union small loans scheme which will be rolled out on a phased basis.

“This new ‘It makes sense’ loan will be available to borrowers struggling to access low-cost credit. It will operate on a pilot basis for the next six months in more than 30 Credit Unions across the country including our own Credit Union here in Slane (Main Street, Slane, Co Meath - Tel: (041) 982 4812/ 982 0989).

“The loan value will range from €100 to a maximum of €2,000 with an interest rate of no more than 12% (APR 12.68%). The scheme will assist low-income households and combat moneylenders at the same time.

“Fine Gael recognises the integral role the credit union sector plays in our communities and since entering government we have put in place a number of measures to stabilise the sector and ensure it can continue to provide vital services to its members into the future.

“Credit Unions are a vital source of credit for many people and businesses and will play an important role in keeping the recovery going.”

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