Car loans up at CU

The number of loans provided by Kilcullen Credit Union during the 2011 financial year was 543, a decrease on 58 on the previous year, writes Brian Byrne.

In their report to the recent AGM, the CU's Credit Committee said the decrease reflected the current climate and employment uncertainty.

Car loans continue to be the largest sector, with the €536,852 figure substantially up on the €460,911 in 2010. Minor home improvements at €369,640 were down on the previous year, and loans to repay debts and bills were halved to €122,048.

The Credit Committee noted that no loan restrictions have been placed on Kilcullen Credit Union by the Financial Regulator, and the CU is open for loans going forward.


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