Credit unions chase €4bn mortgage business

The country’s biggest credit union body believes it can pump up to €4 billion into mortgage lending if it can win the approval it is seeking from the Central Bank, The Sunday Business Post understands.

22nd March, 2015
The Irish League of Credit Unions has lobbied the government in recent weeks. Picture: Photocall

The Irish League of Credit Unions (ILCU) has been lobbying the government and the Central Bank to get permission to enter the mortgage market with a specially set up separate entity.

The body, which counts 500 credit unions as members, has ambitions to lend between €3 billion and €4 billion in home loans if it can get regulatory signoff. It wants to set up a dedicated separate entity to pursue home loan business.

The model it...

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