I realise it's too much for any one single credit union, but could the credit unions in their entirety (or something like the League of Credit Unions of Ireland) club resources and create some entity to purchase the Ulster Bank off NatWest ?
Why buy it ?
For its universal banking licence including its clearing operation (increasingly doubtful value, I know), access to interbank, financial market and business services and above all its mortgage business.
Credit unions are the de facto banks in all villages and towns in the country since 2008.
They are crying out to be let participate in mortgages for years now.
And they are bursting with cash.
Why buy it ?
For its universal banking licence including its clearing operation (increasingly doubtful value, I know), access to interbank, financial market and business services and above all its mortgage business.
Credit unions are the de facto banks in all villages and towns in the country since 2008.
They are crying out to be let participate in mortgages for years now.
And they are bursting with cash.