Mortgage lending continues to be a key driver of Credit Union growth.
The Irish League of Credit Unions has published its Q3 June 2026 results (April to June 2026) on behalf of its affiliated credit unions.
The ILCU represents more than 90% of active credit unions in the Republic of Ireland.
It reported the total mortgage loan book amonng its members reached €827 million by the end of Q3 June 2026, representing a 6% increase on the previous quarter and a 25% rise year-on-year.
If you include all credit unions, it’s estimated to be a book of €1.05 billion.
Mortgages now account for 12.1% of the all ILCU loans, up from 10.6% last year Q3 June 2025 – and there are ambitions to grow that further.
This comes at a time when the mortgage market as a whole is growing.
Banking and Payments Federation Ireland says approvals in August alone hit 1.7 billion euro – up 15.3 percent.
A total of 5,083 mortgages were approved in August, up 12 per cent.
Commenting, David Malone, CEO of the Irish League of Credit Unions said: “As well as the growth in lending, there has been continued growth in savings in ILCU affiliated credit unions. Savings now stand at €16.70bn, an increase of €823 million, or 5.2% year on year.
“The combined balance sheet has reached a new high, total assets topped €20 billion for the first time this quarter. Assets were up €1.01 billion, or 5.3% year on year.”
Credit unions issued 104,812 loans in Q3 June 2026 (+14% on previous quarter), and in total, €793 million in new lending was issued during the quarter (+8% on the previous quarter Q2 March 2026).
This performance has driven the total credit union loan book to €6.84 billion, surpassing last quarter’s record total and the previous historical record of €6.21 billion set in 2008 and marking a significant milestone for the sector.
Ireland has one of the highest levels of credit union membership per capita worldwide.
There are now 3.37 million credit union members in ILCU affiliated credit unions, representing a growth of 79,000 across the past 12 months.
The ILCU also says there is demand for larger loans and increased savings.
The average new loan balance increased to a record €7,150, a 4.7% increase since June 2025, while the average new personal loan issued was €6,430, up 3.1% .
The average new mortgage issued increased by 11.1% to €155,700 in Q3 June 2026, compared with €140,200 in the same period last year.
In business lending, the average new loan issued rose by 17.8% to €31,600, up from €26,830 a year earlie
According to the ILCU the overall loan arrears ratio has now dropped to a new record low to 2.14%, down from 2.21% in Q2 March 2026, and below the previous record low of 2.20% recorded in Q4 Sept 2025.
