Irish League of Credit Unions

  • 20% of parents in Connaught/ Ulster say they're getting into debt to cover back-to-school costs.

    That's considerably lower than the national average of 36% of parents getting into debt.

    The findings are revealed in the annual school-costs survey commissioned by the irish League of Credit Unions.

    11% of parents in debt say they have turned to a moneylender to cope with costs.

    The study found that overall back to school costs have fallen somewhat since last year.

    Parents are now spending €999 per primary school child - €49 less than last year.

    For secondary school students, parents say the cost per child has fallen by €22 to €1,379.

    Books and uniforms are the most expensive items for second-level students, while extracurricular activities and school lunches are the biggest costs for primary school children.

  • Statement from Irish League of Credit Unions in relation to publication of Central Bank report: 

    The Irish League of Credit Unions (ILCU) notes the publication of the Central Bank of Ireland’s Thematic Review of Prize Draws In Credit Unions.

    It is fully acknowledged that credit unions running prize draws should do so only with appropriate systems and controls in place, and in line with all regulatory requirements.

    The report identifies a need for some credit unions to adopt a more thorough and robust approach to operating their draws in line with guidance and regulations. The findings will inform the enhancement and strengthening of policies governing prize draws within credit unions.