CP165 Application of Consumer Protection Code to all regulated credit union activities

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Overview

Description

The Central Bank of Ireland (Central Bank) published the Consumer Protection Code 2025 (CPC 2025) in March 2025.  CPC 2025 will take effect from 24 March 2026.  Once effective, CPC 2025 will apply to credit unions when they act as insurance intermediaries.  However, credit unions are not in scope for other activities including their core activities of savings and lending. 

There has been significant change in the credit union sector in recent years.  This has largely been driven by a process of consolidation and evolution in the credit union business model, to provide a broader range of financial services to credit union members.  In addition, over the last decade there have been significant changes in the legislative and regulatory framework for credit unions to enable credit unions to do more within appropriate limits and guardrails. 

In response to these changes, the Central Bank believes it is now appropriate to apply CPC 2025 to all regulated credit union activities to ensure that credit union members are afforded the same consumer protections as other financial services consumers.  This Consultation Paper sets out the rationale for this position and outlines the proposed process for applying CPC 2025 to all regulated credit unions activities.

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Consultation Paper Document

CP165 Application of Consumer Protection Code to all regulated credit union activities | pdf 680 KB