Commercial Property

Ireland's first credit union fund invests in social housing, paving the way for €1bn investment

The landmark move in Adamstown will kickstart the process for the 23 credit unions who are invested in the CU AHB Fund, with a combined investment of €35 million

Donal Coughlan, Director of the CU AHB Fund; Michael Ahern, CEO Dubco Ireland Credit Union, Gerry Macken Vice-Chairperson Dubco Ireland Credit Union and Colin Creedon, Director of Finance at Circle VHA at the ribbon cutting of Aderrig Square, a newly launched residential development comprising 19 one-bedroom and 19 two-bedroom apartments.

An €8.2 million investment from the country’s first Credit Union Approved Housing Body fund has helped launch 38 social homes at Aderring Square in Adamstown in Lucan in west Dublin by Circle Voluntary Housing Association, or Circle VHA.

Tenancy has already begun at the 38 homes, which comprise 19 one-bedroom and 19 two-bedroom apartments.

According to one of the directors of the fund, Donal Coghlan, credit unions have the capacity to invest up to €1 ...