Credit Unions to be allowed triple mortgage lending

Home and business lending will rise from the current €2.9bn to €8.6bn as limits on the sector are eased 

Individual credit unions would be allowed to lend up to a maximum of 30% of their total assets for housing and up to 10% of their assets for business loans. iStock

Credit Unions will be allowed almost triple the lending they offer for mortgages and business loans following a review by the Central Bank.

Under new proposals, current limits on the sector will be significantly eased with the capacity for house and business lending rising from the current €2.9bn to €8.6bn.