The Minister of State for Finance, Seán Fleming TD, welcomes the approval of the Credit Union Approved Housing Body Fund by the Central Bank for the delivery of social and affordable housing.
The Fund, launched today, will oversee up to €800 million investment in social and affordable homes all across the country. The Fund will invest €200 million in the next 12 months, which will deliver upwards of 1,000 social and affordable homes.
The Fund has been established with backing of four Credit Unions: Core, Dubco, Heritage and Progressive and is open to all credit unions throughout the country to invest in.
Speaking at today’s announcement, Minister of State with responsibility for Credit Unions, Sean Fleming TD said:
“I would like to congratulate the four Credit Unions on the establishment of a Fund authorised by the Central Bank to invest in Approved Housing Bodies. Since I became a Minister, it has been a personal priority of mine to facilitate Credit Union investment in large scale social housing projects. It is a very significant milestone for the sector. This new Fund will help support the delivery of our Housing for All Action Plan, which is the largest State led building programme in Ireland’s history. The progress made by the Credit Union Approved Housing Body Fund and other ventures should inspire further collaborative efforts. In the months ahead, I shall bring forward new policy proposals to help grow and support Credit Unions.”