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Credit Unions encouraged to support new farm loan scheme

May 30, 2021 09:06
By News Northern Sound
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Credit Unions encouraged to support new farm loan scheme

The initiative sees Credit Unions offer farmers a fixed rate loan with streamlined approval.

Local Credit Unions are being encouraged to support a new scheme for farm loans.

CULTIVATE is an initiative that originated in Galway and sees Credit Unions offer farmers a fixed rate loan with streamlined approval.

IFA Chair in County Monaghan, Patrick McCormack says it's a benefit to everyone because it gives farmers more finance options and can be a source of income for Credit Unions.

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He says some progress has already been made on the roll-out.

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