Since the introduction of the Central Bank’s regulation making powers for credit unions in 2016, we have introduced a number of important changes to the framework, including, to the two main asset classes for credit unions – investments and lending. In 2018, to facilitate increased diversification, we introduced additional classes of investment in which credit unions may invest surplus funds.
While development of appropriate investment structures for some of these new classes has taken time, recent developments will facilitate investment in approved housing bodies and corporate bonds for those credit unions seeking to do so.