Credit Union Mortgage review March 26

The Irish League of Credit Unions (ILCU), representing approximately 90% of active

credit unions in the Republic of Ireland, has published its Q1 FY2026 results

(October–December 2025), highlighting continued strength and growth across the

sector.

The total loan book reached a record €6.54 billion, surpassing both the September

2025 level and the previous peak of €6.21 billion recorded in 2008.

Despite this typically slower lending period, over 109,000 new loans were issued,

totalling €659 million—an increase of 7% compared to €615 million in Q1 2025.

Mortgage lending continues to act as a key growth driver. The ILCU-affiliated

mortgage book increased to €754 million, up 6% quarter-on-quarter and 26% year-

on-year. Across the wider sector, the mortgage book now stands at €992 million,

approaching the €1 billion milestone. Mortgages account for 11.5% of total lending,

up from 10.1% a year earlier.Average loan balances have risen to €11,094, while credit quality remains strong, with arrears at a low 2.25%.

Credit unions continue to play a vital role in supporting members financially.

Between October and December 2025, €8.4 million in Life Savings benefits were

paid to 3,500 families, while loan protection cover cleared €4.2 million in loans for

almost 600 families.

Commenting on the results, CEO David Malone highlighted the sector’s “strength

and resilience,” noting both the record loan book and continued mortgage growth.

He emphasised that credit unions are “providing real choice in a hyper-

concentrated market,” supporting members at key financial moments.Looking ahead, the movement continues to expand its impact, with nearly €8 million

provided in community funding in FY2024. Discussions are ongoing around

participation in the Zippay initiative, alongside the development of a sector-wide

strategy aligned with the Government’s forthcoming five-year framework.

Mr Malone concluded that this is “a time of significant opportunity” for credit unions

as they continue to evolve while supporting communities nationwide.

Talent Demand Rising Across the Sector

As credit unions continue to grow—particularly within mortgage lending and

increasingly complex regulatory environments—the demand for experienced,

sector-specific talent is accelerating.

Pro Recruitment Ireland, Ireland’s largest provider of credit union staff, is actively

partnering with credit unions nationwide to support this growth—connecting

organisations with proven professionals who understand both the operational and

cultural nuances of the sector.

We are currently supporting appointments across:

- Lending & Credit Risk Management

- Mortgage & Home Lending Specialists

- Risk & Compliance Functions

- Finance & Operational Leadership

- CEO and Senior Executive Appointments

Our deep understanding of the credit union model—community-focused, member-

driven, and governed with integrity—ensures we deliver candidates who not only

meet technical requirements but align with your values and long-term strategy.

As the sector enters a period of sustained opportunity, the ability to attract and

retain the right talent will be a key differentiator.

At Pro Recruitment Ireland, we combine scale, sector expertise, and a relationship-

led approach to help credit unions secure the people who will drive meaningful

growth.

Whether you are expanding your mortgage offering, planning succession, or

strengthening your leadership team, we would welcome the opportunity to support

you.

Let’s start the conversation: