Economy Minister Dr has launched a public
consultation on legislation to modernise and strengthen the
credit union sector.
Credit unions play an ever increasing role in the financial
wellbeing of individuals, families and communities. The
consultation seeks views on a range of proposed reforms that will
ensure the sector remains sustainable, inclusive and responsive
to the changing needs of its members and the wider economy.
Minister Archibald said: “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.”
The proposals published today were co-designed by the Irish
League of Credit Unions and the Ulster Federation of Credit
Unions alongside the Department for the Economy.
Dr Archibald said: “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 consultation on the Credit Union (Modernisation and Reform)
Bill is open now and closes at 23:59 on Thursday 10 July
2025.
Read the consultation and have your say at: https://www.economy-ni.gov.uk/consultations/credit-union-modernisation-and-reform-public-consultation
