Séamus McGrath (Cork South-Central, Fianna Fail)
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59. To ask the Minister for Finance his views of current levels of investment from credit unions into the approved housing bodies fund; and if he will make a statement on the matter. [27763/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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I thank the Deputy for his question.

Investment in Approved Housing Bodies (AHBs) is permitted under credit union regulations, introduced by the Central Bank of Ireland in March 2018. Under these regulations, over €1 billion can be made available by credit unions to invest in AHBs.

I believe the Credit Unions have a significant role to play in supporting their local communities' social housing needs through the credit union Approved AHB Fund.

The Credit Union AHB Fund is a fund that all credit unions can invest their members savings in. The Fund will then provide loan financing to AHBs in respect of completed social housing units.

Minister of State Troy recently held a meeting with the Credit Union AHB Fund and sector stakeholders to discuss the levels of investment in the fund. I am informed that credit unions have invested €41 million in the fund.

It is important to note that neither I, nor the Minister of State, have any role in promoting investment in the fund as this is a commercial matter for each individual credit union and their respective boards.