Credit unions ‘should lend more mortgages’, minister says

Credit unions should fill the void left by the departures of Ulster Bank and KBC from the Irish market and start lending more mortgages, said the minister responsible for the sector.

Deputy Minister of Finance Sean Fleming said credit unions do not lend enough to their members and there is a “downside” to industry fragmentation that prevents many smaller credit unions from entering the mortgage market. “They’re not making enough loans, that’s the big problem,” Mr Fleming told the Sunday Independent.

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