Clare Credit Unions Seeing Rise In Parents Borrowing To Cover Back-To-School Costs

The CEO of St Francis Credit Union says they’re seeing an increase in the number of parents borrowing to cover back-to-school costs.

A recent survey from the Irish League of Credit Unions shows that 71% of parents in Munster find sending their children to school is a financial burden.

Families in the province are spending €1,341 per primary school child and €1,461 on secondary school children.

CONTINUE READING BELOW

 

Louis Fay from St. Francis Credit Union says the demand for loans isn’t necessarily a bad thing as it means parents aren’t resorting to illegal moneylenders.

Listen back to the full interview here: