The Credit Union have confirmed they will introduce a loans system will help struggling families and in turn put pressure on moneylenders.
The new loan system entitled ‘It Makes Sense’ scheme will apparently see the lender offering small loans of no more than €2,000 to low-income families.
The Credit Union say the ne scheme will allow those strapped for cash to pay loan back at much lower interest rates.
The latest move has been welcomed by many with many in the financial sector hoping the system will put added pressure on lenders who are taking advantage of families.