Credit union levy to remain unchanged in 2024, finance minister says

The stabilisation levy will result in a charge of about €300,000 to the credit union industry as a whole in 2024

Credit Unions will pay about €300,00 into the stabilisation fund in 2024. Picture: Getty

The credit union stabilisation levy will remain unchanged next year, the finance minister has announced.

Michael McGrath on Thursday confirmed that the levy would remain at 0.001441 per cent of assets, resulting in a charge of about €300,000 for the sector in 2024.

The resolution and stabilisation levies were introduced in the wake of the financial crisis to support credit unions facing difficulties.

Jennifer Carroll MacNeill, the junior minister for credit unions, said: “The decision ...