Credit unions celebrate 50 years

Nobel Peace Prize winner John Hume and broadcaster Marian Finucane will help launch the 50th anniversary celebrations of the …

Nobel Peace Prize winner John Hume and broadcaster Marian Finucane will help launch the 50th anniversary celebrations of the Irish credit unions movement today.

A portrait of the founders of the Irish League of Credit Unions (ILCU) will be unveiled today at the organisation's Dublin offices.

Mr Hume is a founder member of the first credit union in Northern Ireland while Ms Finucane's aunt Nora Herlihy helped found the movement in the Republic.

The ILCU represents 521 local credit unions across the island of Ireland.

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The financial institutions hold €13.4 billion of savings and €15.1 billion in assets.

Up to 40per cent of all savings or deposit accounts in the Republic of Ireland are held in credit unions.

PA