Overall figures from ILCU

Brendan Burgess

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See attached presentation made by the ILCU today

Savings €10.5 billion

Loans €3.9 billion

reserves €1.9 billion
Loan provisions €0.7 billion
Total reserves and provisions: €2.6 billion ( 67% of loans)

Net loan in arrears : €564 million (Gross loans of €725m less €161m in shares as security)

The figure for actual arrears is not given.


(Note the presentation actually says "Loan arrears - net" but it actually means "Loans in arrears" as distinct from the amount of arrears.
 

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  • ILCU stats Dec 2013.pdf
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These figures relate to ILCU members only.

There are 13 credit unions who are not affiliated to the ILCU. Newbridge was one of them.
 
So the members of the League have €3.9 billion of loans outstanding.

They have reserves and loan provisions of €2.6 billion available to fund these.

Which means that they only need €1.3 billion from members' shares.

But they have €10.5 billion in shares. They could hand back €9 billion to their members and still fund the loan book.

Extraordinary numbers.

Brendan
 
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