Credit Union Handbook

1. Purpose of the Credit Union Handbook

In order to assist credit unions in the implementation of the strengthened regulatory framework (see Section 4 below) the Central Bank has developed a Credit Union Handbook ("the Handbook"). The purpose of the Handbook is to assist credit unions by bringing together in one place a number of legal and regulatory requirements and guidance that apply to credit unions, arising from their authorisation as credit unions.

The scope of the Handbook includes:

• Governance and prudential requirements applying to credit unions contained in the Credit Union Act, 1997, as amended (“the 1997 Act”).
• The Credit Union Act 1997 (Regulatory Requirements) Regulations 2016, as amended ("the Regulations").
• Other requirements that apply to credit unions arising out of their authorisation as credit unions such as consumer protection and anti-money laundering requirements.

Please note that as of November 2025 the Fitness and Probity Chapter has been removed from the Handbook. Information on Fitness and Probity can be found at the “Fitness and Probity Section” of the Central Bank website, which includes links to the most recent versions of the Fitness and Probity Standards and the Guidance on the Standards of Fitness and Probity.

2. Regulations

In August 2025, the Central Bank made the Credit Union Act 1997 (Regulatory Requirements) (Amendment) Regulations 2025 (the 2025 Regulations). The 2025 Regulations amend the Regulations.  The 2025 Regulations are effective from 30 September 2025.

Credit Union Act 1997 (Regulatory Requirements) (Amendment) Regulations 2025 S.I. 410 of 2025

A Frequently Asked Questions document (FAQ) which provides answers to questions relating to
implementation of the 2025 Regulations is available at the below link.

Credit Union Act 1997 (Regulatory Requirements) Regulations 2025 FAQ

In November 2024, the Central Bank made the Credit Union Act 1997 (Regulatory Requirements) (Amendment) (No. 2) Regulations 2024 (the 2024 No.2 Regulations). The 2024 No. 2 Regulations amend the Regulations. The 2024 No. 2 Regulations are effective from 1 January 2025.

Credit Union Act 1997 (Regulatory Requirements) (Amendment)(No. 2) Regulations 2024 S.I. 655

A Frequently Asked Questions document (FAQ) which provides answers to questions relating to implementation of the 2024 No. 2 Regulations concerning credit union exempt services is available at the below link.

Credit Union Act 1997 (Regulatory Requirements) (Amendment) (No.2) Regulations 2024 FAQ

In September 2024, the Central Bank made the Credit Union Act 1997 (Regulatory Requirements) (Amendment) Regulations 2024 (the 2024 Regulations). The 2024 Regulations make consequential amendments to the Regulations arising from the coming into operation of a number of changes to the Credit Union Act, 1997 under the Credit Union (Amendment) Act 2023.  The 2024 Regulations are effective from 30 September 2024.

Credit Union Act 1997 (Regulatory Requirements) (Amendment) Regulations 2024

In December 2020, the Central Bank published the Credit Union Act 1997 (Regulatory Requirements) (Amendment) Regulations 2020 (the 2020 Regulations). The 2020 Regulations amend the Regulations. The 2020 Regulations are effective from 22 December 2020.

Credit Union Act 1997 (Regulatory Requirements) (Amendment) Regulations 2020 S.I. 675 of 2020

In December 2019, the Central Bank published the Credit Union Act 1997 (Regulatory Requirements) (Amendment) Regulations 2019 (the 2019 Regulations). The 2019 Regulations amend the Regulations. The 2019 Regulations are effective from 1 January 2020.

Credit Union Act 1997 (Regulatory Requirements) (Amendment) Regulations 2019 S.I. 642 of 2019

A Frequently Asked Questions document (FAQ) which provides answers to questions relating to implementation of the 2019 Regulations is available at the below link.

Credit Union Act 1997 (Regulatory Requirements) (Amendment) Regulations 2019 FAQ

The Regulations were previously amended by the Credit Union Act 1997 (Regulatory Requirements) (Amendment) Regulations 2018 (the 2018 Regulations). The 2018 Regulations are effective from 1 March 2018.

Credit Union Act 1997 (Regulatory Requirements) (Amendment) Regulations 2018

View a Frequently Asked Questions document (FAQ) which provides answers to questions relating to implementation of the 2018 Regulations

On 1 January 2016, the remaining sections of the Credit Union and Co-operation with Overseas Regulators Act 2012 (“the 2012 Act”) and the Regulations commenced. These Regulations, combined with the commencement of the remaining sections of the 2012 Act and the prudential and governance requirements already in place, provide an appropriate regulatory framework for the credit union sector at this time.

Credit Union Act 1997 (Regulatory Requirements) Regulations 2016

A Frequently Asked Questions document (FAQ) which provides answers to questions relating to implementation of the Regulations is available at the below link.

For ease of reference, the Central Bank of Ireland has prepared an unofficial consolidated version of the  Regulations, as amended by the 2018 Regulations, the 2019 Regulations, the 2020 Regulations, the 2024 Regulations, the 2024 No. 2 Regulations and the 2025 Regulations. Please note that this is not a legal document.

3. Handbook Chapters

The Handbook contains the Chapters set out below. The Introduction Chapter sets out details on the structure, contents and operation of the Handbook.

1. Introduction
2. Glossary
3. Legal Definitions
4. Accounts and Audit
5. Credit Union Services
6. Anti-Money Laundering and Countering the Financing of Terrorism
7. Borrowing
8. Consumer Protection
9. Fitness and Probity [Removed as of November 2025]
10. Governance
11. Internal Audit
12. Investments
13. Lending
    1. Provisioning Guidelines for Credit Unions
14. Liquidity
15. Operational Risk
16. Outsourcing
17. Reserves
18. Risk Management and Compliance
19. Savings
20. Strategic Plan
21. Transfers of Engagements and Amalgamations

Appendix 1: Documentation required to be maintained pursuant to the 1997 Act

Appendix 2: Enforcement

Appendix 3: Appeals under the 1997 Ac

To navigate to a particular chapter in this version "click" on the Chapter name on the contents page.

A Frequently Asked Questions document provides answers to questions relating to the implementation of the new governance and prudential requirements.

4. Updates made to the Credit Union Handbook

The Handbook was originally published in 2013. Since then, updates to individual chapters have been made periodically to update legislative/regulatory requirements and/or to provide additional guidance.