A significant announcement from Central Bank of Ireland this morning for the Credit Union sector on CP 159.

The National Supervisor Forum Chairperson John Higgins warmly welcomes the announcement from the Central Bank on the reform of the Credit Union lending framework. This announcement comes on the back of a long and intensive consultation process with representative bodies. The reform will increase the lending capacity for Credit Unions from €2.9 Billion to €9.9 Billion, which will come into effect from 30th September 2025.

Speaking on the announcement; Chairperson John Higgins said, “This is a significant reform from the Central Bank today and I certainly welcome this. The Credit Union sector has been advocating for this change for a period and I have to thank the Central Bank officials for their work on this matter. These changes offer Credit Unions certainty in their business planning and future proofing the sector moving forward.”

Read more here: Central Bank of Ireland announces targeted changes to credit union lending regulations