I welcome news today that a nationwide loan scheme will be rolled out in conjunction with Credit Unions across the country. People who might otherwise be turned down by the banks and other financial institutions will now be able to access loans of up to 2,000 Euro at the local Credit Union and that will prevent them having to go to money lenders and pay up to 200% interest.I have long been proposing an increased role for the Credit Unions and this is a first step. Any move that will save people from falling into crippling debt with money lenders who charge extortionate rates of interest has to be welcomed and hopefully the loan applications can be dealt with quickly and efficiently. This proposal was in the programme for Government which I helped to negotiate and I once again welcome the news today.
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