Credit Union Loan Book hits record high

Credit Union Loan Book hits record high of €6.7bn as lending demand accelerates

The Irish League of Credit Unions (ILCU), which represents more than 90% of credit unions in the Republic of Ireland, has today released the Q2 2026 (January – March 2026) results, highlighting continued growth in lending across the sector.
 
Overall, the results point to strong and sustained demand for credit union lending, with total loans outstanding rising to a record high of €6.66 bn. This represents a 1.9% increase in the quarter (from €6.54 bn in Dec 2025), and a 9.6% increase on the previous 12 months (from €6.08 bn in Mar 2025), marking another step forward in the sector’s ongoing expansion.
 
Credit unions issued €735 million in new loans during the quarter, representing an increase of 11.5% in value compared to the previous quarter.

Mortgage Lending
Mortgage lending continues to be a key driver of growth. The total mortgage loan book among ILCU-affiliated credit unions reached €782 million by the end of Q2 March 2026, representing a 4% increase on the previous quarter and a 24% rise year-on-year. Mortgages now represent 11.7% of the overall loan portfolio, up from 10.4% last year in Q2 March 2025.
 
The average loan outstanding also rose to a new high of €11,319 and this robust growth in lending is underpinned by strong credit quality. The overall loan arrears ratio remains at a very low level, overall arrears ratio was 2.21% in Q2 March 2026, close to the record low of 2.20% recorded in Q4 Sept 2025.
 
The loans-to-savings ratio increased to 40%, reflecting continued progress in the deployment of member savings to support lending activity.

Growth in Total Assets, Savings and Membership
Alongside continued growth in lending, credit unions maintain a strong and stable financial position.
 
Total assets increased to €19.82 billion, while savings rose to €16.53 billion, reflecting a 5.3% increase year-on-year. Capital levels remain robust at €3.18 billion (16.02% capital ratio), well above regulatory requirements, and liquidity remains strong at 27.91%, equivalent to €4.28 billion in liquid assets.
 
Membership is expanding across the credit union movement with over 74,300 new members joining over the last 12 months. There are now 3.36 million credit union members in ILCU affiliated credit unions, with Ireland continuing to have one of the highest levels of credit union membership per capita worldwide.

Note: ILCU data includes data from 91% of active CUs in the Republic of Ireland.