CREDIT UNION UPDATE 2025
Strategic Merger with Baltinglass Credit Union
A defining achievement in 2025 was the successful merger between Altura Credit Union and Baltinglass Credit Union, finalised in March 2025 following Central Bank approval.
This strategic merger has created a unified organisation with:
• Combined assets exceeding €265 million • A membership base of over 55,000 • Total reserves approaching €39 million The integration is already delivering tangible benefits — enhanced efficiencies, broader service access for members, and greater operational resilience. The enlarged Altura Credit Union now stands among the strongest in the country: a sustainable, competitive, and community-focused financial co-operative, well-positioned to serve current and future generations. Enhancing Member Benefits Reflecting our strengthened financial position, we have increased the share cap to €50,000 per member, with an additional €25,000 allowance for members holding a current account — bringing the total to €75,000 per member. These limits are reviewed regularly to ensure ongoing alignment with our regulatory reserve position and growth strategy. Our loan book continues to expand, driven by competitive products and a strong member-focused lending ethos. Mortgage lending remains a key growth area, supported by the Central Bank’s recent increase in the lending cap for Credit Unions — now permitting up to 30% of assets for house lending and 10% for business lending. These reforms empower ACU to meet a broader range of member needs — from home ownership to business development and farm lending — while maintaining the personalised, relationship-based service that sets us apart from mainstream financial institutions. Innovation and Digital Transformation ACU continues to lead in digital transformation, positioning itself as a trusted alternative to traditional banks. Through Metamo, our joint venture with Fexco and fifteen other Credit Unions, we are co-developing innovative products and services designed to meet emerging member and sectoral needs. During 2025, we introduced further enhancements to our Payac current account offering, including improved payment functionality, simplified onboarding, and tailored benefits for students and members aged over 66 — who continue to enjoy free day-to-day banking. Nationally, Credit Union’s digital engagement has grown significantly over the past couple of years, and ACU’s digital adoption mirrors this upward trend — a clear sign of our members’ confidence in our secure, user-friendly platforms.
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