Credit Unions
Dail Éireann — 2026-05-26
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Robert Troy (FF), Longford-Westmeath

The Government is committed to supporting the continued development and expansion of the credit union sector, recognising, as the Deputy does, its important role in providing community-based financial services. A range of legislative and regulatory measures have been delivered and the focus now is on the development of a new five-year strategy for the credit union sector. On 19 April, I formally announced the commencement of the credit union strategy project. This programme for Government commitment will, for the first time, deliver a sector-wide approach to future-proof the credit union movement and allow the sector to address challenges and capitalise on emerging opportunities.
This strategy will build on the foundations of the Credit Union (Amendment) Act and the Central Bank’s lending reforms, and will focus on establishing a shared vision and a clear strategic direction for the sector, primarily within the existing legislative and regulatory framework. The Credit Union (Amendment) Act 2023 introduced significant reforms aimed at strengthening and modernising the sector and broadening the range of services available to members. Key measures include loan referrals, loan participation and provisions relating to the establishment of a corporate credit union. Amended lending regulations, which commenced on 30 September 2025, significantly enhanced the lending capacity of credit unions. The regulations increased the lending limits to 30% of total assets for mortgages and 15% for business loans, thereby enabling credit unions to expand their offerings and compete more effectively in these markets. Based on sector assets of €22.5 billion at the end of 2025, these changes permit up to €6.8 billion in mortgage lending and up to €3.4 billion in business lending.

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Retrieved: 2026-09-14T01:01:04+00:00
Sitting date: 2026-05-26