Peter Cleere (Carlow-Kilkenny, Fianna Fail)
Link to this: Individually | In context

214. To ask the Minister for Finance the amount and average value of mortgages outstanding by credit unions at the end March 2023, March 2024 and March 2025; and if he will make a statement on the matter. [27370/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context

Data provided by the Central Bank, based on extracts from unaudited information reported by credit unions, outlines the following positions as at 31 March 2023, 31 March 2024 and 31 March 2025 respectively:

2023 - The amount outstanding in house lending was €364.9m with an average loan size of €92,825.

2024 - The amount outstanding in house lending was €614.9m with an average loan size of €115,844.

2025 - The amount outstanding in house lending was €824.7m with an average loan size of €129,728.

Peter Cleere (Carlow-Kilkenny, Fianna Fail)
Link to this: Individually | In context

215. To ask the Minister for Finance the amount and average value of business lending outstanding by credit unions at end March 2023, March 2024 and March 2025; and if he will make a statement on the matter. [27371/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context

Data provided by the Central Bank, based on extracts from unaudited information reported by credit unions, outlines the following positions as at 31 March 2023, March 2024 and 31 March 2025 respectively:

2023 – The amount outstanding in business lending was €151.45m with an average loan size of €20,764.

2024 – The amount outstanding in business lending was €173.76m with an average loan size of €22,744.

2025 - The amount outstanding in business lending was €182.47m with an average loan size of €23,783.

Peter Cleere (Carlow-Kilkenny, Fianna Fail)
Link to this: Individually | In context

216. To ask the Minister for Finance the amount and average value of personal lending outstanding by credit unions at end March 2023, March 2024 and March 2025; and if he will make a statement on the matter. [27372/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context

Data provided by the Central Bank, based on extracts from unaudited information reported by credit unions, outlines the following positions as at 31 March 2023, 31 March 2024 and 31 March 2025 respectively:

2023 - The amount outstanding in personal lending was €5.261bn with an average loan size of €8,509.

2024 - The amount outstanding in personal lending was €5.814bn with an average loan size of €9,141.

2025 - The amount outstanding in personal lending was €6.258bn with an average loan size of €9,671.

Peter Cleere (Carlow-Kilkenny, Fianna Fail)
Link to this: Individually | In context

217. To ask the Minister for Finance regarding Section 53 of the Credit Union Act 1997 as amended, if a person has completed 11 of their maximum 12 years in continuous service on their credit union board, if they are eligible for election for a further three year term at the credit union's AGM in autumn/winter 2025, which would bring their term up to autumn/winter 2028. [27373/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context

Firstly, I should clarify that I as Minister for Finance cannot give legal advice nor can I comment on individual cases. Similarly, the Central Bank is not in a position to provide legal advice or interpretative advice on legislation to the firms it regulates.

However, I have set out some points in relation to your question below.

In accordance with Section 53 of the Credit Union Act 1997 (the 1997 Act), a member of a credit union may not be appointed or elected to the board of directors if he or she has served for more than 12 years in aggregate in the previous 15 years on either the board of directors or the board oversight committee of the credit union.

For directors of a credit union or members of the board oversight committee who were already directors or members of the board oversight committee on the date of the commencement of this section in respect of the relevant credit union, the 12 year period commenced on 3 March 2014.

On foot of queries received, the Central Bank recently wrote to all credit unions to clarify its understanding of the application of the relevant provisions of the 1997 Act vis-à-vis the “twelve year limit”. In this regard, the Central Bank clarified the following points:

1. The twelve year limit set out in section 53 runs from 3 March 2014 and this means that the earliest date on which a person could become ineligible for appointment or election due to length of continuous service as a credit union director is 3 March 2026, being 12 years from 3 March 2014.
2. Subject to point 1), section 53(12) imposes the restriction only on the appointment or election of the director. Therefore, where appointed in compliance with Section 53 (i.e. prior to having served more than 12 years in aggregate in the previous 15 years), the director can continue in their role until the conclusion of their term of office.

In line with section 56B(12) of the 1997 Act, the nomination committee of a credit union is required to formally review the membership of any person who is a member of the board of directors for more than the 12 years in aggregate permitted under Part IV of the 1997 Act and document the rationale for the continuance of such membership of that person.

I would urge credit unions to continue to adhere to the highest standards of governance including board rejuvenation. I would also encourage credit unions to actively manage their succession planning to ensure that they continue to have a steady pipeline of suitably qualified and diverse directors in the years to come.

It is the responsibility of individual credit unions to ensure, on an ongoing basis, that they comply with all legal and regulatory requirements that apply to them, including section 53 of the 1997 Act.