The issue for St Raphaels, St Pauls (both the Garda Credit Unions) and Health Services is that they have all reached the upper limit that CBI allow them to lend mortgages:
2016 Regulations (as amended) extracts 12A.(1) A credit union may apply to the Bank for approval to increase its combined total gross amount outstanding in relation to house loans and business loans to 15 per cent of the assets of the credit union. (I think they have all reached that limit).
So they either lift their assets by more savings (liabilities and assets go up); repayments by existing members.
Credit Union would be shot at dawn if it breaches the Regulations. meanwhile CBI does nothing on savings rates with Banks. Mind boggles.
With pressure from our leader - can see the Governor calling him shortly - CBI could change the Regulations by Statutory Instrument.
2016 Regulations (as amended) extracts 12A.(1) A credit union may apply to the Bank for approval to increase its combined total gross amount outstanding in relation to house loans and business loans to 15 per cent of the assets of the credit union. (I think they have all reached that limit).
So they either lift their assets by more savings (liabilities and assets go up); repayments by existing members.
Credit Union would be shot at dawn if it breaches the Regulations. meanwhile CBI does nothing on savings rates with Banks. Mind boggles.
With pressure from our leader - can see the Governor calling him shortly - CBI could change the Regulations by Statutory Instrument.