Credit Unions say new limits will allow them to double mortgage lending

Previously, credit unions could lend a combined 15% of total assets in either home or business lending .

New lending limits for the credit union sector have come into effect, raising the sector's lending capacity by €6.6bn.

The key changes include increasing the lending limit for home loans to 30% of total assets, increasing limits for business loans to 15% of total assets, and decoupling the concentration limits for home and business lending.