Has anybody seen todays Irish Times. http://www.ireland.com/newspaper/front/2006/0526/581286312HM1ABCREDIT.html It seems some credit unions are carrying so many crap loans that they are technically insolvent . If their regulator pressurises them (as he did Monaghan ) to clean up their books and to write the crap off then they could be in serious trouble in certain cases. Others will survive the cleanup . Others do not need to clean up at all. Look what happened to Monaghan afterwards here and more worryingly here. Thats why some of them joined the Irish Credit Bureau recently, trying to spot the vermin before it gets its money, but I would worry more about some of the ones who did not TBH .