Potential supports for Credit Unions in mortgage market welcomed locally

A potential move to ease restrictions that currently prevent credit unions expanding in the mortgage market has been welcomed locally.Sligo Leitrim Independent TD, Marian Harkin, says that Minister for Finance, Jack Chambers, is in favour of relaxing restrictions that are currently imposed by the Central Bank.Credit unions could only lend €615m in mortgages last year, despite having assets of up to €21bn.Speaking to Ocean FM News, Deputy Harkin says Minister Chambers should act now to support the credit unions.

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