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Credit Union Fund (Stabilisation) Levy Regulations 2020
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Credit Union Fund (Stabilisation) Levy Regulations 2020
The Minister for Finance, Mr Paschal Donohoe T.D., signed into law the Credit Union Fund (Stabilisation) Levy regulations on 21 October 2020.
Under the Regulations, credit unions will be required to pay a Stabilisation Levy contribution in 2021. This Stabilisation Levy is an annual levy that will be used to build up a Stabilisation Fund for credit unions.
In a press release issued on 9 October 2020 the Minister confirmed a levy rate of 0.0015544% of assets which will result in a charge of approximately €300,000 for the credit union sector in 2021. Further details are available in that press release (Minister Donohoe announces Credit Union Sector Levy Regulations 2020 ) or in the Credit Union Fund (Stabilisation) Levy Regulations published below.
