Credit unions move to establish greater role in mortgage and SME lending

Over 30 credit unions hope to establish a Central Liquidity Management Mechanism for the sector

Credit unions are ethical, not-for-profit lenders that continue to provide effective and viable alternatives to financial institutions that operate for profit.

Some 35 credit unions across Ireland have expressed interest in establishing a Central Liquidity Management Mechanism (CLMM) for the sector which would enable credit unions to play a much greater role in mortgage and SME lending.

A CLMM, if fully enabled, will act as a centralised treasury function working for all member credit unions.