CREDIT UNION UPDATE 2025
Altura Credit Union (ACU) remains steadfast in its mission to evolve, innovate, and strengthen its role as a leading community-based financial institution. As we enter a new era for the Credit Union movement, the legislative and economic landscape continues to evolve — and ACU is proud to be at the forefront of this transformation. Through continued investment in technology, member services, and prudent financial management, we have maintained our position as a trusted financial partner for more than 55,000 members across the common bond area. Financial Performance and Reserves For the year ending 30 September 2025, Altura Credit Union recorded a surplus of over €2.3 million, reaffirming our operational strength and long-term sustainability. Our realised reserve ratio remains well above the required minimum, standing at 14.59%, a reflection of disciplined governance and sound financial stewardship. Adequate reserves remain fundamental to our sustainability — safeguarding members’ funds, supporting continued innovation, and ensuring operational resilience amid market and interest rate fluctuations. Legislative and Sectoral Developments The year 2025 marks a pivotal moment for the Irish Credit Union movement. Building on the foundations of the Credit Union (Amendment) Act 2023, which came fully into effect in early 2024, a new wave of regulatory enhancements introduced in 2025 has further modernised and strengthened the sector’s operating framework. The Credit Union (Amendment) Regulations 2025, implemented under the guidance of the Central Bank of Ireland, focus on three key areas: 1. Collaborative Lending and Shared Services – empowering Credit Unions to work together more effectively through shared loan underwriting frameworks and joint product delivery models. 2. Expanded Investment and Lending Powers – enabling greater allocation of assets towards SME, community, and home lending, supporting local enterprise, innovation, and ultimately, our members. 3. Enhanced Governance and Competency Standards – raising the bar for directors and staff qualifications under the revised Minimum Competency Code (MCC 2025), reinforcing transparency, accountability, and professionalism. In addition, new provisions facilitate the establishment of Credit Union Service Organisations (CUSOs) — shared platforms designed to foster collaboration in product development, digital innovation, and risk management. This marks a significant advancement in the sector’s collective capacity and competitiveness. Altura Credit Union will always consider appropriate strategic initiatives that will enhance member service and experience, all the while further securing its viability and sustainability. These legislative reforms align seamlessly with Altura Credit Union’s long-term strategy: to remain a strong, compliant, and forward-thinking financial institution dedicated to meeting the evolving needs of our members.
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