Credit Union | Long Accounts

Commission on Credit Unions established

21 Jun, 2011 in Business News tagged credit union / loan book review by Long Accounts

The Government has established a Commission on Credit Unions to review the future of credit unions and to make recommendations for the future regulation. Some credit unions have run into financial difficulty, while most are considered to be well capitalised. However, given the severe downturn in the domestic economy, no credit union is immune from bad debts. It is thought that some Government funding will be required to strengthen the […]

Credit Unions Interest Reporting

27 Oct, 2009 in General / Taxation tagged account / bank / credit union / deposit / income tax / interest / tax by Long Accounts

The Revenue commissioners have extended their voluntary disclosure initiative for undisclosed income or funds held in banks and building societies to credit unions. Taxpayers who had €100,000 or more in aggregate in credit union accounts (which included funds not previously declared for tax) at any time between 1st January 2005 and 31st December 2008 have until 31st March 2010 to make a voluntary disclosure. This announcement was recently made by […]