Credit union customers have been urged to come forward if they are experiencing difficulty repaying their loans after new figures showed a 13% rise in cases taken by credit unions against customers nationally.
The figures from Vision-net.ie show there has been no significant increase in cases taken by credit unions against customers in Donegal with just two judgements this year - the same as in 2010.
Letterkenny Credit Union had one judgement in its favour this year, for €6,622, while another judgement was won by Killybegs Credit Union for €16,153.
Two awards were made to Killybegs Credit Union last year amounting to €38,000.
The total value of the judgments in their favour is also up by €1.2m to more than €10m nationally.
General Manager of Letterkenny Credit Union, Gordon Randles, urged customers to come forward and work with the credit union if they are experiencing difficulties in repaying loans. However, the credit union has a duty of care to its members and will use legal means in cases where members are not assisting in recovering debts. He said the credit union understands that there has been a reduction in many people’s disposable income which affects their ability to meet loan repayments.
“As best as we can we will come to an appropriate resolution between the two parties. We would encourage communication and contact with the credit union. In the worst cases, and these are cases that might be ongoing for years, we would just go through the courts process. Nobody involved in a credit union wants to bring a member to court but it is member’s funds we are dealing with and we have to use whatever legal right we have to recover the funds from members who will not assist us in any way, shape or form. But our primary objective is to keep people working with us. If they work us through the bad times we will be there for them in the good times.”