THE CREDIT UNION loan book has reached its largest size on record, overtaking even the heights seen during the Celtic Tiger, according to new figures from the Irish League of Credit Unions (ILCU).

New data for the year to September 2025 shows total lending has climbed to €6.48 billion, a 10% rise on last year and the highest level the sector has ever reported.

The surge has been driven in large part by a 28% jump in mortgage lending, with home loans now accounting for 11% of all credit union lending.

More than 109,000 loans, worth a combined €780 million, were issued between July and September alone, while the average loan size has risen to a record €11,044.

Credit quality remains strong, with arrears falling to just 2.2%.

ILCU chief executive David Malone said the figures reflect growing trust and demand from members, and that recently expanded Central Bank lending limits give credit unions “further opportunity for credit unions to expand their lending in a phased and prudent manner”.

“These are a hugely positive set of results for credit unions,” Malone added. 

Savings have also continued to rise, now standing at €16.13 billion, and membership has grown to 3.3 million people.

The ILCU said the sector is well-positioned to become Ireland’s “first choice for community finance” as it continues to expand digital services and broaden its lending capacity.