Irish Credit Unions Form New Body for Mortgage and SME Lending

Twenty-six credit unions across Ireland have backed a proposal to establish a corporate body designed to expand their capacity for mortgage and Small and Medium Enterprise (SME) lending. According to reporting by The Irish Independent on April 7, 2026, the initiative centers on the creation of a centralised treasury function for the sector.

The proposed treasury function is intended to allow individual credit unions to pool their resources. This mechanism would enable the participating institutions to gain access to longer-term funding through the wholesale markets, providing the necessary capital to increase lending for businesses and homebuyers.

Leadership and Participation

Five credit unions are leading the project to establish the new entity: Member First, Health Services Staff, Comhar Linn INTO, First Tech, and St Raphael’s Garda Credit Union. The broader plan has received support from 26 groups nationwide.

The establishment of this corporate entity is aimed at creating a pooled capital structure. By sharing resources, the participating credit unions intend to scale their lending operations beyond the limitations of individual institutional funding.

Sector Shift Toward Mortgage Lending

The move toward a centralised treasury comes as the credit union sector has pivoted its strategy regarding housing finance. Reporting indicates that credit unions began to seriously offer mortgages in the last two to three years.

The new corporate body is intended to drive this growth by stabilizing the funding pipeline, allowing these institutions to compete more effectively in the mortgage and SME markets through the use of wholesale market instruments.