Minister Sean Fleming, Minister of State with responsibility for credit unions has noted the report from today's Irish Independent and is aware that this is an ongoing issue for the Irish League of Credit Unions.

The Irish League of Credit Unions is a representative body and the pension scheme administered by it does not represent the sector as a whole.

Credit unions benefit from a very robust reserve base of over €3 billion. The stability and resilience of the sector are of paramount importance to the Government and Central Bank.

Minister Fleming commented,

"I am encouraged that the Irish League of Credit Unions is taking steps to address any shortcomings in their pension scheme. This will give greater certainty to credit unions members and participants in the scheme".

ENDS

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Department of Finance of Ireland published this content on 28 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 January 2022 13:52:08 UTC.