Credit Union Interest Rates

THE average dividend being paid by credit unions this year (2008) has fallen by 16pc compared to 2007.

Out  of a total of 420 credit unions in  Ireland – 20 credit unions plan to pay no dividend this year at all.

About half of the credit unions will pay a dividend of between 2pc and 3pc, but the average dividend is likely to be 1.82pc. This is a fall of 16pc on the average dividend of 2.11pc paid last year.

Almost 10pc of credit unions are proposing a dividend of more than 3pc

Credit unions, which have 2.9 million members around the country, have been holding their annual general meetings in the past few weeks at which members are asked to approve the dividend payments.