DUBLIN — Credit unions affiliated with the Irish League of Credit Unions increased their combined loan portfolio to a record €6.84 billion in the quarter ended in June, while assets topped €20 billion for the first time, the league reported.
The league, which represents more than 90% of active credit unions in the Republic of Ireland, said its affiliated institutions issued 104,812 loans during April through June, a 14% increase from the previous quarter. New lending totaled €793 million, up 8% from the quarter ended in March.
The results, covering the league’s fiscal third quarter, pushed the total loan portfolio above both the previous quarter’s record and the historical high of €6.21 billion set in 2008.
“These latest quarterly results highlight the ongoing trust in credit unions and important role that they play in supporting the ambitions and needs of individuals and communities,” said David Malone, the league’s CEO. “This is underlined by the sustained growth in demand across our lending portfolio, recognition that credit unions are progressive financial services providers that are there for people at every stage in life.”
Mortgage Lending Drives Growth
Mortgage lending remained a key driver of growth, according to the league. The combined mortgage portfolio reached €827 million at the end of June, up 6% from the previous quarter and 25% from a year earlier.
Mortgages accounted for 12.1% of the overall loan portfolio, compared with 10.6% in June 2025.
The average new loan balance reached a record €7,150, up 4.7% from June 2025. Average new loans by category were:
- Personal loans: €6,430, up 3.1% from a year earlier.
- Mortgages: €155,700, up 11.1% from €140,200.
- Business loans: €31,600, up 17.8% from €26,830.
- Community loans: €54,170, down about 2% from €55,300.
The league said lending growth was accompanied by strong credit quality. The overall loan arrears ratio fell to a record low of 2.14%, down from 2.21% in the quarter ended in March and below the previous low of 2.20% recorded in the quarter ended in September 2025.
Savings, Assets And Membership Increase
Savings at affiliated credit unions reached €16.7 billion, an increase of €823 million, or 5.2%, from a year earlier.
Combined assets exceeded €20 billion for the first time, rising €1.01 billion, or 5.3%, year over year.
Membership reached 3.37 million, an increase of 79,000 over the preceding 12 months. Ireland continues to have one of the world’s highest levels of credit union membership per capita, according to the league.
Insurance Benefits Assist Bereaved Families
Affiliated credit unions paid €9 million in Life Savings benefits during April through June, assisting 3,920 families facing bereavement, the league said.
During the same period, loan protection coverage cleared nearly €4.8 million in outstanding loans, relieving 629 families of the obligation to repay a deceased member’s loan.
The league said the insurance coverage, provided to eligible members at no direct cost, remains an important source of financial assistance for bereaved families.
Strategy Project Advances
The Credit Union Strategy Project, a commitment under Ireland’s Programme for Government supported by the Department of Finance, is well underway, the league said.
“The Credit Union Strategy Project is making strong progress and reflects the sector’s commitment to working collectively to unlock new opportunities for growth,” Malone said.
“This collaborative initiative can support credit unions to build the capabilities and strategic focus required to expand lending opportunities, enhance member services, and strengthen their role in communities across Ireland. As the project continues to advance, it will help position credit unions to meet evolving member needs while supporting sustainable growth across the sector.”
