Fianna Fáil TD Cormac Devlin has called on Credit Unions to extend the same terms offered by the main banks to their customers during the on-going COVID-19 crisis.
Deputy Devlin was contacted by several constituents in recent days who have lost their jobs due to the on-going COVID-19 crisis but have been offered no support from their local Credit Unions.
Deputy Devlin said: “The main banks were able to introduce a range of measures to help those affected by the outbreak of coronavirus. They included a payment break of up to three months, the deferment of court proceedings and the provision of working capital support to support businesses and personal customers.
“I am calling on Credit Unions to implement similar supports for their customers during the current COVID-19 restrictions. Banks were able to ensure that any Covid-19 application for a payment break and further reviews will not adversely impact the customer’s credit record in the future.
“However, over the weekend I was contacted by a person who was warned by their Credit Union that their credit rating would be impacted if they asked for a three-month break. This is unacceptable in the current climate and urgent clarity on the matter is needed,” concluded Deputy Devlin.