Payday lender Wonga is to pay more than £2.6 million in compensation to around 45,000 customers for “unfair and misleading debt collection practices”, the UK markets regulator has announced. The UK’s biggest payday lender was found to have sent letters… read more →
Kieron Brennan is leaving to take over as boss at the National Association of Building Co-operatives, a charity that promotes the provision of social housing.
Half of the 6,600 legal letters sent out by AIB to borrowers in arrears of 90 days or more have resulted in engagement with the bank by the borrowers. Chairman David Hodgkinson told shareholders at the bank’s AGM that none… read more →
CREDIT unions are speeding up the roll-out of new electronic payment options and are in talks with Visa and MasterCard about providing debit cards for members.
A FORMER COMMITTEE member of the campaign to save Newbridge Credit Union has said that a proposed merger between Naas and Newbridge Credit Unions would lead to “colossal” losses. Frank White, who stepped down from the campaign in order to… read more →
The Credit Union Service Organisation for Payments (CUSOP) has been granted a payment institution licence by the Central Bank of Ireland that will allow credit unions to provide electronic payment services to members nationwide. The new service will allow credit… read more →
A total of 147 credit unions in the Republic will start rolling out electronic payment options from next February. This will mean you will be able to have your wages put into the credit union directly from your employer. The… read more →
The High Court has approved the transfer of the loans and savings of Newbridge Credit Union to State-rescued bank, Permanent TSB. It is the first time a bank has taken control of the assets of a credit union. In a… read more →
Tens of thousands of credit union members are being refused loans because half of all credit unions are under orders from the Central Bank to limit their lending. The lending restrictions are benefiting banks and moneylenders while undermining the member-owned… read more →