Credit unions in Northern Ireland contributed £686,383 to community initiatives in 2024, according to a new all-island report from the Irish League of Credit Unions. The document covers donations from 305 credit unions across Ireland, totalling close to €8 million. Northern Ireland's share converted to €824,415 at current rates.

The contributions funded projects in education, arts and culture, sport, health and wellness, and sustainability. Funds came through community grants, sponsorships, and bursaries for members and groups. Specific amounts included €3.71 million in community funding, €3.5 million in sponsorships, and €780,000 in bursaries and scholarships island-wide.

Economy Minister Caoimhe Archibald welcomed the scale of support from credit unions. She noted their role in providing financial services to members and aiding local communities and the economy.

The report, based on a 2025 survey of credit unions and their annual reports, uses 2024 data as a baseline for future tracking. ILCU President Brendan Jenkins described it as evidence of credit unions' value beyond finance, acting as community hubs.

Martin Fisher, head of Northern Ireland operations for the ILCU, highlighted more than 130 credit unions active locally. He pointed to the sector's origins in Derry and its ongoing adaptation in financial services while committing to communities.

Credit unions operate as not-for-profit entities owned by members, focusing on local areas known as common bonds. In Northern Ireland, they support households amid economic pressures from inflation and post-pandemic recovery.