17/04/2025
Consultation Launched To Modernise NI's Credit Union Sector
Economy Minister Dr Caoimhe Archibald has launched a public consultation on new legislation aimed at modernising and strengthening the credit union sector in Northern Ireland. The consultation seeks input on a range of proposed reforms designed to ensure the sector remains sustainable, inclusive, and responsive to the evolving needs of its members and the broader economy.
Highlighting the increasing role of credit unions in supporting the financial wellbeing of individuals, families, and communities, Minister Archibald emphasised the importance of their continued success.
"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," said Dr Archibald.
The proposals put forward in the consultation document were developed collaboratively by the Irish League of Credit Unions, the Ulster Federation of Credit Unions, and the Department for the Economy.
Dr Archibald further stated: "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 public consultation on the Credit Union (Modernisation and Reform) Bill is now open and will close at 23:59 on Thursday, 10th July 2025.
Interested parties can read the consultation document and submit their views via the DfE website.
Highlighting the increasing role of credit unions in supporting the financial wellbeing of individuals, families, and communities, Minister Archibald emphasised the importance of their continued success.
The proposals put forward in the consultation document were developed collaboratively by the Irish League of Credit Unions, the Ulster Federation of Credit Unions, and the Department for the Economy.
Dr Archibald further stated: "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 public consultation on the Credit Union (Modernisation and Reform) Bill is now open and will close at 23:59 on Thursday, 10th July 2025.
Interested parties can read the consultation document and submit their views via the DfE website.
Related Northern Ireland News Stories
Click here for the latest headlines.
09 December 2011
Credit Unions Get Full Deposit Protection
Credit union customers in NI are to enjoy the same protection as those at ordinary banks. The Financial Services Authority (FSA) and HM Treasury (HMT) have today jointly announced that Northern Ireland's credit union customers will have their deposits protected to the value of £85,000.
Credit Unions Get Full Deposit Protection
Credit union customers in NI are to enjoy the same protection as those at ordinary banks. The Financial Services Authority (FSA) and HM Treasury (HMT) have today jointly announced that Northern Ireland's credit union customers will have their deposits protected to the value of £85,000.
06 July 2023
Back-To-School Costs 'Financial Burden' For NI Parents
Back-to-school costs have increased again for parents across NI, with a significant majority describing the costs as a 'financial burden'. According to the latest School Costs Survey from the Irish League of Credit Unions (ILCU), 78% of parents said that covering the costs of back to school is a financial burden compared to 72% in 2022.
Back-To-School Costs 'Financial Burden' For NI Parents
Back-to-school costs have increased again for parents across NI, with a significant majority describing the costs as a 'financial burden'. According to the latest School Costs Survey from the Irish League of Credit Unions (ILCU), 78% of parents said that covering the costs of back to school is a financial burden compared to 72% in 2022.
01 November 2005
Minister urges uptake of Age-Related Payments
Social Development Minister David Hanson has called on people over 65 to take advantage of Age-Related Payments. The Government is making two payments this year to help pensioners with their rates bills or other living expenses.
Minister urges uptake of Age-Related Payments
Social Development Minister David Hanson has called on people over 65 to take advantage of Age-Related Payments. The Government is making two payments this year to help pensioners with their rates bills or other living expenses.
19 November 2004
TSS advise on overseas credit card spending
As a result of a recent High Court ruling that overseas purchases are not covered by the Consumer Credit Act 1974, the Trading Standards Service (TSS) is advising consumers on the protection they can currently expect when using a credit card to purchase goods or services.
TSS advise on overseas credit card spending
As a result of a recent High Court ruling that overseas purchases are not covered by the Consumer Credit Act 1974, the Trading Standards Service (TSS) is advising consumers on the protection they can currently expect when using a credit card to purchase goods or services.
26 March 2024
New Manifesto To Transform NI's Credit Union Network
The Irish League of Credit Unions (ILCU) has launched a new policy manifesto to support the Northern Ireland Assembly in bringing about essential changes and recognising the essential role of credit unions within communities and the wider economy.
New Manifesto To Transform NI's Credit Union Network
The Irish League of Credit Unions (ILCU) has launched a new policy manifesto to support the Northern Ireland Assembly in bringing about essential changes and recognising the essential role of credit unions within communities and the wider economy.
-
Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
