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Devine welcomes Credit Union small loan scheme

26 July, 2016 - by Máire Devine

Sinn Féin Seanad spokesperson on Social Protection Máire Devine has welcomed the national roll out of a small loans scheme through the Credit Union network which was announced today by Minister Leo Varadkar.

Speaking today, Senator Devine said:

“This comes just in time for applications to help with back to school costs. This loan scheme will provide much comfort for families who find this time of year extremely hard.

“In years gone by, such families were forced into the hands of aggressive moneylenders who set exorbitant interest rates, use intimidation tactics and keep vulnerable people in a vicious cycle of never-ending debt for relatively small amounts.

“The scheme provides loans of up to €2000 and can be used for day to day or seasonal costs encountered people throughout the country.

“I would encourage all Credit Unions to sign up to this scheme and likewise the general public to avail of it. There is no need to approach these moneylenders from now on and I am available to assist anyone who requires further information.” 

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