The Irish League of Credit Unions said its loan book hit a record high of €6.7 billion in its second fiscal quarter of 2026 as lending demand accelerates.
The Irish League of Credit Unions, which represents more than 90% of credit unions here, said its total loan book rose by 1.9% in this quarter and 9.6% for the year to March 2026.
The value of new loans issued in the quarter increased by 11.5% to €735m.
Its mortgage book also continued to expand, increasing by 4% in the quarter and 24% year on year and it said that mortgages now make up 11.7% of overall credit union loan book.
The total mortgage loan book among ILCU-affiliated credit unions reached €782m by the end of March 2026, representing a 4% increase on the previous quarter and a 24% rise year-on-year.
Today’s figures show that 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%, close to the record low of 2.20% recorded at the end of September 2025.
Meanwhile, total assets at credit unions increased to €19.82 billion, while savings rose to €16.53 billion, reflecting a 5.3% increase year-on-year.
The Irish League of Credit Unions said its capital levels remain “robust” at €3.18 billion (16.02% capital ratio), well above regulatory requirements.
Liquidity remains strong at 27.91%, equivalent to €4.28 billion in liquid assets, it added.
Membership is also 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.
David Malone, CEO of the Irish League of Credit Unions, said today’s results reflect continued strong performance by credit unions across the country.
“The growth in higher-value lending is particularly encouraging, demonstrating that members are increasingly turning to credit unions not only for day-to-day borrowing needs, but also for major life decisions,” Mr Malone said.
“That trend is a powerful reflection of the trust members place in their local credit union, as evidenced by the recent win of Ireland’s most reputable organisation for the fourth year in a row,” he said.
“The sustained growth in mortgage lending is especially significant, with the sector’s total mortgage lending now surpassing the €1 billion milestone. This achievement underlines that credit unions are providing real choice and competition in the mortgage market while supporting members through some of the most important financial decisions they will ever make,” he added.
