Minister Troy updates on progress of the Credit Union Strategy Project

Minister Robert Troy recently provided an update regarding the progress of the Credit Union Strategy Project.

A part of ongoing stakeholder engagement, the minister hosted a roundtable discussion attended by members of the Project Governance Board, the standing members of the Strategy Committee, representatives from ILCU, CUDA, CUMA and the NSF, the Credit Union Advisory Committee (CUAC), and officials from the Central Bank of Ireland.

The roundtable provided an opportunity to discuss progress to date and the next phase of the project.

Separately, as part of his engagement with the sector the Minister of State conducted three regional roundtable sessions to date around the country. He met directly with credit union representatives and community groups to hear their views on the future of the credit union sector and to inform the Credit Union Strategy Project.

Further regional roundtable sessions are planned to take place.

The Minister provided a list detailing the project's progress to date.

• The Terms of Reference and Governance documents, which set out the structure, roles and operation of the project, have been finalised and published.

• The sector survey has been launched. Responses will directly determine the themes explored at the Strategy Workshops and will form the foundation of the Credit Union Sector Strategy. The survey takes approximately 30 minutes to complete and is open to CEOs, Board Chairs, directors, staff and volunteers. The CEO and Board Chair of every credit union are particularly encouraged to respond.

• The application process for the Strategy Committee and Workshops is now open. Applications are sought from experienced and committed individuals who can contribute their knowledge, perspective and leadership to this work. Each credit union may nominate one person to apply.

Minister Troy provided his thoughts on the progress so far.

“Since formally launching the Credit Union Strategy process, it has been abundantly clear of the ambition and commitment from the Credit Union sector.

“His strategy belongs to every Credit Union around the country, and their early engagement has set the tone for what is going to be hugely impactful for the future of this vital financial service.

“It has been a pleasure to convene roundtables in Galway, Limerick, and Dublin to hear from local Credit Unions as well as community organisations and I look forward to further roundtables in other parts of the country.

“So far, I have heard about the desire for enhanced resilience, product standardisation, and wider lending.

“Really strong start, and I must acknowledge individual Credit Unions I have engaged with, community organisations, the representative bodies, the Project Governance Board, and members of the Strategy Committee for their work to date.”

He also encouraged active participation from across the sector, emphasising the importance of ensuring that the final strategy reflects the collective views, experience and ambitions of credit unions throughout Ireland.

Key dates

• Survey closing date: 5th of August 2026

• Application closing date: 24th of July 2026

• Strategy Workshops: expected late September to end of November 2026.

• Strategy Committee: first meeting to take place in September 2026; strategy to be finalised early 2027.

Links to the application and survey are available here: https://www.gov.ie/en/department-of-finance/publications/credit-union-strategy/