Ireland’s Department of Finance announced two developments for the credit union sector: the publication of a Credit Union Stabilisation Fund process note and FAQ, and the repayment of EUR 10 million from the Credit Institutions’ Resolution Fund (CIRF) to the Exchequer, which it describes as ending Exchequer funding of the CIRF. The Stabilisation Fund documents, developed with the Central Bank of Ireland and following consultation with the Credit Union Advisory Committee, set out the fund’s purpose, access criteria and funding conditions, responding to review findings that called for greater awareness and transparency about the fund’s operation. Separately, the Central Bank returned the final EUR 10 million of a EUR 250 million advance originally provided in 2011 under the Central Bank and Credit Institutions (Resolution) Act 2011 after the CIRF reached its EUR 65 million target size in 2025; EUR 240 million had been repaid in 2018. The Department also reiterated that a nil levy for the sector’s contributions to the resolution and stabilisation funds applies from 1 October 2025 to 30 September 2029, subject to compliance with specified conditions.
Department of Finance (Ireland) 2026-03-13
Ireland's Department of Finance publishes Credit Union Stabilisation Fund guidance and confirms end of Exchequer funding for the Credit Institutions’ Resolution Fund
Ireland’s Department of Finance published a Credit Union Stabilisation Fund process note and FAQ, and repaid EUR 10 million from the Credit Institutions’ Resolution Fund (CIRF) to the Exchequer, ending Exchequer funding of the CIRF. Developed with the Central Bank of Ireland, the documents outline the fund’s purpose, access criteria, and funding conditions. A nil levy for the sector’s contributions to the resolution and stabilisation funds applies from 1 October 2025 to 30 September 2029, subject to compliance with specified conditions.