Credit unions cleared to more than triple mortgage and business lending

Credit unions cleared to more than triple mortgage and business lending

Credit unions will be able to more than triple their current mortgage and business lending after the Central Bank gave the go-ahead to changes to lending regulations for the sector.

Central Bank announce changes to regulatory lending framework for credit unions

The Central Bank of Ireland has announced targeted but significant changes to the regulatory lending framework for credit unions. This measure will allow the sector increased scope to provide house and business lending to their members. The changes, which follow an evidence-based review of credit union lending and a public consultation process, aim to ensure that the lending framework remains appropriate for the future.  Some of the main changes…