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Website. www.creditunion.ie. The Irish League of Credit Unions (ILCU) (Irish: Conradh na hÉireann de Chomhair Chreidmheasa [1]) is a trade association for credit unions in Ireland. It operates in both the Republic of Ireland and Northern Ireland. It is an unincorporated body governed by a board of directors elected by member credit unions.
A credit union is a member-owned nonprofit cooperative financial institution. They may offer financial services equivalent to those of commercial banks, such as share accounts (savings accounts), share draft accounts (cheque accounts), credit cards, credit, share term certificates (certificates of deposit), and online banking.
The Mortgage Credit Directive (MCD) is a body of European legislation for the regulation of first- and second charge mortgages and consumer buy-to-let (CBTL) lending. [1] It was originally adopted by the European Commission on 4 February 2014 and Member states had to transpose the regulations in their national law by March 2016.
According to Bank of England figures, the number of credit union members in Britain nearly doubled from 562,000 in 2004 to almost 1.04 million in 2012, while total assets increased from £ 432m to £956m. However, the number of active credit unions in Britain fell from 565 in 2004 to 390 in 2012. Some merged with rivals but others ceased ...
Credit unions generally offer more competitive mortgage rates compared to traditional banks. In the second quarter of 2024, the average rate on a 30-year fixed-rate mortgage offered by credit ...
First Active was an Irish bank, and former building society which was merged into Ulster Bank in late 2009, ceasing trading in February 2010. It traditionally offered a range of mortgages (including subprime mortgages), savings, investment, pension and life assurance products, but from 2007 onwards, also offered credit cards, ATM accounts and current accounts as well as online banking and ...
Allied Irish Banks Limited was formed in 1966 as a new company that acquired three Irish banks: Provincial Bank of Ireland, the Royal Bank of Ireland, and the Munster & Leinster Bank. In 1966, AIB's aggregate assets were IR£255 million (€323.8 million)—as at 31 December 2005, the AIB Group had assets of €133 billion. In the 1980s the ...
The post-2008 Irish banking crisis was when a number of Irish financial institutions faced almost imminent collapse due to insolvency during the Great Recession. In response, the Irish government instigated a €64 billion bank bailout. This then led to a number of unexpected revelations about the business affairs of some banks and business ...