Credit Unions
Dail Éireann — 2026-05-26
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Tony McCormack (FF), Offaly

I thank the Minister of State for his response. As I said earlier, credit unions already play an enormously important role in communities, with millions of account holders across Ireland and a very high level of public trust. Following the departure of a number of retail banks from the Irish market, there is clear need for greater competition within the banking sector. One of the most significant opportunities for expansion is in mortgage lending. While credit unions currently account for only 1% of the mortgage market, the sector has ambitious plans to expand substantially in this area, potentially up to €10 billion in mortgage lending over time. Greater competition in that space would be hugely positive for consumers and could help place downward pressure on mortgage rates. Does the Minister of State agree that supporting the responsible expansion of credit union mortgage lending represents a significant opportunity within the Irish banking market?

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2026-05-26/debate/main
Retrieved: 2026-09-14T01:01:04+00:00
Sitting date: 2026-05-26