@ slim : During a radio interview on RTE [broken link removed] Friday 7th October last with ILCU's CEO he stated " There are no credit unions in trouble at present" and "we have no credit unions at present, let me clear about this, who are currently in financial difficulty" .
During the programme the CEO admitted that over half of credit unions have had lending restrictions imposed. He was being interviewed on Michael Noonan's comments the previous day - the reference to some credit unions about to fall down a hole and the sector needing between €500m and €1bn in state funding.
While the intention is to recoup taxpayers funds "in the medium term" by levying credit unions through a stabilisation scheme - it remains to be seen if they are eventually fully recouped.