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.
Tánaiste welcomes Credit Union participation in COVID-19 Credit Guarantee Scheme
more options for Irish SMEs and primary producers
The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD today (Thursday 14 January) announced the participation of Metamo Credit Unions and three non-bank lenders: Linked Finance, CapitalFlow and Finance Ireland, in the governmentâs â¬2 billion COVID-19 Credit Guarantee Scheme.
The Credit Guarantee Scheme is the biggest ever state-backed loan guarantee in Ireland. The Scheme offers an 80% Government guarantee to participating lenders to provide Irish businesses, including those in the farming and fishing sectors, with access to low interest loans as they respond to the impacts of COVID-19.