Credit union mortgage lending up more than 60%

Over the past 12 months, there have been 14.1 million digital transactions conducted by credit union members

The total value of mortgage lending by credit unions now stands at €518m. 

Mortgage lending by credit unions has grown by over 60% over the last year and now accounts for 10% of the total value of all loans issued by these community financial institutions, the Irish League of Credit Unions (ILCU) has said.

In its latest results for the period April to June, the ILCU said mortgage lending increased by 10% compared to the first three months of this year bringing the total lent out by members to €518m. As of the end of June 2023, the total value of all mortgage lending by ILCU members stood at €320m.