Press release
Minister of State for Finance welcomes launch of two credit union backed funds in Approved Housing Bodies
Published on
Last updated on
Published on
Last updated on
The Minister of State for Finance with responsibility for Financial Services, Credit Unions and Insurance, Seán Fleming TD, welcomes the launch of two credit union backed funds for lending to Approved Housing Bodies (AHBs) this week and congratulates the credit union sector for their collaborative efforts in launching the two funds.
The two credit union backed funds that received regulatory approval from the Central Bank include the Credit Union Approved Housing Body Fund and the Credit Union Development Association (CUDA) backed Approved Housing Body Fund. Both of these funds will lend to AHBs for the purposes of delivering social and affordable housing.
Commenting on the launch of the two funds, Minister of State for Finance, Seán Fleming TD said:
“I would like to congratulate the credit union sector for getting approval from the Central Bank for these two funds to invest in social and affordable housing and I am pleased that these two initiatives will be open for all credit unions to participate in. It demonstrates the unique ethos of credit unions helping those most in need in our communities. This is encouraging news for the credit union sector and I am confident that through further collaboration credit unions can continue to grow and strengthen.”
ENDS