New legislation is set to allow credit unions expand their membership and services in Sligo.

It’s set to bring about significant reforms for the Credit Union sector in Ireland like enhancing competitiveness in lending markets.

Phase 1 was introduced last week while Phase 2 will be rolled out from April. 

It’ll also mean that credit unions will be able to compete more effectively in the mortgage market.

Sligo Fine Gael Cllr Thomas Walsh told Midwest Radio's Alannah Nolan more about what positive implications it will have....

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