ILCU welcomes Economy Minister’s launch of consultation on credit union legislative reform
Posted on: 17 Apr 2025
The Irish League of Credit Unions warmly welcomes today’s announcement by the Economy Minister launching a public consultation on the reform of credit union legislation in Northern Ireland.
Speaking at the launch event, held in Armagh Credit Union, the Minister outlined the Executive’s commitment to supporting a modern, thriving credit union movement that can continue to serve communities across Northern Ireland for generations to come.
This consultation marks a significant milestone for our sector. It offers a timely and important opportunity to ensure that the legislative framework for credit unions is fit for purpose and enables credit unions to grow, innovate and better meet the needs of members in a changing financial landscape.
According to Martin Fisher, Head of Northern Ireland with the Irish League of Credit Unions:
“We welcome this long-awaited consultation and the leadership shown by the Minister in taking forward reform. We commend the Minister and the Department for the Economy for engaging directly with the credit union sector and for recognising the vital role credit unions play in financial inclusion, community development and local economic resilience”.
He continued:
"With the right legislative changes and supports from government, we believe credit unions in Northern Ireland can realise their full potential and deliver even greater impact for the communities they serve. We encourage all credit unions and stakeholders to participate fully in the consultation process and help shape the future of a sector that continues to put people before profit".
The Irish League of Credit Unions looks forward to working closely with the Department and all stakeholders throughout the consultation process and beyond.
Pictured at the launch of the consultation in Armagh Credit Union was Economy Minister Dr Caoimhe Archibald iwith Martin Fisher, Head of NI, Irish League of Credit Unions; Martin Busch, President, Irish League of Credit Unions; and Maeve Mullan of Armagh Credit Union.