Wexford Credit Unions Demand Answers from By-Election Candidates

Chapter 9 Credit Unions are demanding that, local, political candidates pledge their commitment to the movement ahead of the upcoming by-election. The local chapter of credit unions wants assurances from candidates that they will work to reverse the levy imposed on the movement. The Chapter has invited candidates to a town hall-style meeting at the Talbot Hotel the evening of 21st November. They will be grilled on their plans to work for a reversal of regulatory and industry levies. The credit unions involved have a combined membership of more than 100, 000 and assets exceeding 500 million. Recently, increases in the Central Bank Industry Funding levy among several others, the move has increased pressure on credit unions.

Speaking about the event, organiser and Chapter 9 chairman, Joss O’Connor said: “The purpose of the event is to establish each of the candidates’ intentions as regards the credit union movement. Credit unions are the very cornerstones of their local communities, providing access to affordable credit for many. They are now faced with a hugely challenging environment of increased regulatory and industry levies, combined with a critically low case of credit unions firmly on the national political agenda”.

Invitations have been extended to candidates from Fianna Fáil, Fine Gael, Labour, the Green Party, Sinn Féin and others.

President of the Irish League of Credit Unions (ILCU), Gerry Thompson, will be in attendance on the evening, along with ILCU and Chapter 9 directors. Attendance is expected to number 100 and is by invitation only.