Views sought on modernisation of Northern Ireland’s credit union sector
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Pictured (left–right): Northern Ireland's economy minister Dr Caoimhe Archibald; Martin Fisher, head of Northern Ireland at the Irish League of Credit Unions; Martin Busch, president of the Irish League of Credit Unions; and Maeve Mullan of Armagh Credit Union.
A public consultation has been launched on legislation to modernise and strengthen Northern Ireland’s credit union sector.
The Credit Union (Modernisation and Reform) Bill was “co-designed” by the Irish League of Credit Unions and the Ulster Federation of Credit Unions alongside the Department for the Economy.
The proposed reforms aim to ensure the sector remains sustainable, inclusive and responsive to the changing needs of its members and the wider economy.
Economy minister Dr Caoimhe Archibald said: “Credit unions are rooted in communities. They offer accessible and ethical financial services, and they do so with a deep understanding of local needs. I want to make sure they are supported and thrive in the years ahead.
“This consultation is a chance for credit unions, their members and the wider public to shape the future of the movement here.”
She added: “My Department is committed to the promotion of financial inclusion and a regionally balanced economy in which everyone shares in the benefits of prosperity – credit unions are integral to that goal.”
The consultation will run until midnight on Thursday 10 July 2025.
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