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Collectively levies of €5.3 million will be collected for 2022, mirroring the amount collected in 2021

Levies on Credit Unions further reduced

The two main regulatory levies imposed on credit unions to afford the institutions financial head room have been further reduced by the Minister for Finance Paschal Donohoe.

Business • 27 Sep 21

Lack of online services saw 1 in 3 closing CU accounts

Around a third of people surveyed by a company that provides technical expertise to the credit unions sector said they had closed their credit union accounts because of a lack of digital services.

Business • 14 Jun 21

Declan Colfer, managing director of Wellington IT, said that credit unions are facing 'a golden opportunity'

Credit unions face 'golden opportunity' amid bank exits

New research reveals that 58% of people who do not use a credit union as their main financial institution would consider switching to a credit union for their day-to-day banking if they were aware of the full range of services available from them.

Business • 10 May 21

Credit unions are ordinarily required to ensure that their AGMs are held in person between October and January following their September financial year end

Virtual AGM deadline for credit unions extended

The timeline allowing credit unions to hold their annual general meetings virtually has been extended until the end of June.

Business • 21 Apr 21

Declan Colfer, Managing Director, Wellington IT

New software enables credit unions to digitise services

Wellington IT, the technology partner to the Irish credit union sector, has launched its new cloud service to enable credit unions to automate and digitise their operation and member services.

Business • 21 Dec 20

The Central Bank report says reserves and liquidity levels had remained relatively stable across the credit union sector during the pandemic

Savings and loans gap a challenge for credit unions

There was a 7% increase in total savings in the country's credit unions in the year to the end of September, according to the Central Bank.

Business • 17 Dec 20

The report also details what the supervisor expects from credit unions

Central Bank finds weaknesses in some credit unions

Weaknesses have been identified in a number of credit unions as part of a supervisory analysis conducted by the Central Bank.

Business • 08 Sep 20

Declan Colfer Managing Director and Ian Glenn Chief Technical Officer Wellington IT

App for credit union members launched by Wellington IT

A new banking app that enables credit union members to manage their accounts online, has been launched by Wellington IT, technology partner to the credit union sector.

Business • 01 Sep 20

St Anthony's & Claddagh Credit Union and St Jarlath's Credit Union are set to merge

Two Galway credit unions announce plans to merge

Two of the largest credit unions in the west of the country have announced plans to merge.

Business • 15 Jun 20

Credit unions were given an Excellent Reputation Pulse score of 83.7 for their role as a 'trusted cornerstone' of local communities

Credit unions top Ireland RepTrak 2020 study

The credit union sector took the top spot overall as the most reputable organisation in Ireland, the latest Ireland RepTrak 2020 study shows.

Business • 07 May 20

Credit unions have been declared an essential service amid the Covid-19 crisis

Donohoe discusses Covid-19 with credit unions

The Government said today it continues to support credit unions as a provider of essential services to their members, including access to income, savings, credit and to payment services.

Business • 23 Apr 20

The number of credit unions overall has reduced since 2011, falling from 406 to 241 this year

Credit unions facing challenges despite strong reserves

A new report on credit unions show that they continue to face financial challenges in terms of income generation and return on assets due to the low interest rate environment and high cost metri

Business • 17 Dec 19

The volume of loans a credit union can issue from January will now be aligned to their asset size

New lending rules for credit unions from January

The Central Bank has said it will allow credit unions undertake increased longer term lending, including home mortgage and business lending.

Business • 21 Nov 19

A total of 30 credit unions with 115 branches nationwide will begin rolling out a full range of current account services

Credit unions to offer current account services

Dozens of credit unions across the country are gearing up to take on the banks by offering current accounts for the first time.

Business • 17 Oct 19

Denis McCarthy, CEO of Fexco, Minister for Finance Paschal Donohoe with Claire Lawton, CEO St Canice's Credit Union Kilkenny and Joe O'Toole, Chairperson of MetaCU at today's launch

Fexco to join forces with 16 credit unions

A group of 16 credit unions here has announced a €10 million collaboration with the Irish fin tech company Fexco today.

Business • 04 Jul 19

The Credit Union's Pro Energy Homes Scheme will offer loans of on average €10,000 for projects such as solar panels

Credit unions roll out home energy upgrade scheme

Twenty credit unions around the country will soon be rolling out funding to help homeowners improve the energy efficiency of their properties.

Business • 13 May 19

Over 420,000 members have moved to larger credit unions, most of whom operate from multiple business locations today

Restructured credit unions show improved finances

The transfer of assets, liabilities and operations between credit unions have taken place in almost every county since 2013, a new report from the Central Bank shows.

Business • 21 Feb 19

Tim Murphy, Strencom CEO, said that data security is absolutely crucial in the financial services sector

Strencom in €2m deal with 140 credit union branches

Strencom, the Irish managed connectivity and cloud computing provider, has signed new cloud and connectivity deals totalling €2m with 140 credit union branches across the country.

Business • 21 Feb 19

The Credit Union Advisory Committee Report Implementation Group's final report was published today

Credit unions set for higher interest rates on loans

The Minister for Finance has asked officials to begin preparing legislative changes needed to allow credit unions charge higher interest rates on loans and financial products.

Business • 07 Jan 19

The credit union sector's total assets now stand at a record high of €17.6 billion

Credit Unions' total assets hit a record high

A new report on credit unions from the Central Bank shows improvements in the sector's financial position, but challenges still a feature.

Business • 19 Dec 18

The survey measures the level of trust, respect, admiration and esteem the public has for 100 of the largest, most familiar, and most important organisations in Ireland

Credit Unions most highly regarded by public

Credit Unions are rated as the most highly regarded organisations in Ireland for their role in providing trusted financial services to local communities.

Business • 10 May 18

The Central Bank found that, of 128 credit unions reviewed, 59 operate a prize draw

Credit unions warned over draws following prize review

The Irish League of Credit Unions has said that any credit unions running prize draws should do so only in line with Central Bank regulations.

Business • 09 Mar 18

Credit Union members' savings have increased by €2.3 billion since 2012

Despite growth in lending, credit unions under pressure

A new report on the credit union sector from the Central Bank shows that despite growth in new lending and a decrease in the level of loan arrears, pressures remain on their business model.

Business • 18 Dec 17

The regulator warned over compliance issues

Credit unions may be allowed invest in housing funds

Credit unions may be able to invest in social housing providers, under new regulations being considered by the Central Bank.

Business • 05 Jul 17

Credit Unions' average arrears fell from 18% of total loans in 2011 to 10% in 2016

Credit Unions' assets up by €2 billion in 2016

Credit unions' assets have increased to €16 billion in 2016 from €14 billion in 2011, according to new research from the Central Bank.

Business • 24 Feb 17