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People First Credit Union gets green light to help Laois and Kildare businesses survive Covid-19
Credit union approved to give loans of up to €1 million
Reporter:
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Business in Laois and Kildare will be able to borrow up to €1 million from a local credit union thanks under a new plan which will see the People First Credit Union permitted to lend up under the Government’s COVID-19 Credit Guarantee Scheme (CCGS).
People First Credit Union, which is a member of Metamo, the joint venture between 16 Credit Unions and Fexco, says it will now be able to provide Government-backed loans directly to local Small and Medium Enterprises (SMEs), whose survival is critical to the vibrancy and economic wellbeing of the Laois, Kildare areas in which it operates.
Updated / Friday, 15 Jan 2021
10:53
Joe O Toole, Chair of the Metamo Credit Union Group; Anne King, Board Member of Metamo and Denis McCarthy, Fexco CEO
Seven of the country s largest credit unions, all members of Metamo, have become the first credit unions to offer loans to SMEs under the Government s Covid-19 Credit Guarantee Scheme (CCGS).
Metamo is the joint venture between credit unions and Fexco and was set up in July 2019.
The seven credit unions joining the CCGS have a combined membership of about 250,000 members and include Cara Credit Union, Mallow Credit Union, First Choice Credit Union, People First Credit Union, St Canice s Credit Union, Limerick & District Credit Union, and Synergy Credit Union.