Minister for Finance statement on his attendance at the ILCU Conference

The Minister states:

The Irish League of Credit Unions (ILCU) represents the majority of credit unions on the island of Ireland. As of September 2024, 167 out 183 credit unions in the State are members of ILCU. At the 2025 ILCU Conference held in Belfast, Minister of State Troy provided an opening address.

In his opening address Minister Troy touched on several important issues for the sector including:

• The importance of the sector as providers of financial services to their local communities. Challenges facing the sector including low Loan-to-Asset Ratios, high-cost base, changing consumer behaviours, and significant digital change.

  
  

• The Credit Union Amendment Act as an enabler for collaboration within the sector to deliver a better service for members.

  
  

• How a collaborative or corporate credit union could be transformative for the sector, providing solutions to many of the constraints within the sector.

  
  

• Minister Troy's hopes for increased investment from credit unions into the Credit Union AHB Fund.

  
  

• How proposed targeted changes to the Credit Union Lending Regulations will result in significant additional capacity for house and business lending.

  
  

• That Government will support the sector in delivering a strategic purpose and framework, in line with the Program for Government commitment.

  
  

• Willingness of the Minister and officials to work with the Department of Economy in Northern Ireland towards the betterment of credit unions across the island of Ireland.

  
  

The conference provided credit union sector stakeholders with valuable insights, networking opportunities, and a platform to discuss the future vision of the sector.