Credit unions that thrive vital for all via @independent_ie.

Credit unions enjoy exceptional popularity in Ireland. People love their friendliness and informality. Even in these cash-strapped times, their total deposits still amount to €12bn.

But like so many other Irish institutions, our 400-plus credit unions are in severe difficulties. Many of them have insufficient capital. Some are in serious danger. The figure for loans in arrears has been estimated at €1bn.