06 Jul 2022

Laois people looking for homes to benefit from €800 million credit union housing fund

Laois Minister of State welcomes and outlines how it can work

Laois housing

The Conniberry social housing estate when it was under construction in Portlaoise off the Old Knockmay Road

The Laois TD who is the Minister with responsibility for overseen credit unions has welcomed a big new social and affordable housing fund.

Seán Fleming, Minister of State at the Department of Finance, said the Credit Union Approved Housing Body Fund would will oversee up to €800 million investment in social and affordable homes all across the country. He added that the Fund will invest €200 million in the next 12 months.

He said this is a first for the Irish credit union and approved housing body sectors and has been widely welcomed for its collaborative approach to helping solve the housing crisis. Minister Fleming explained that the initial planned investment of €200 million by credit unions will allow for the delivery of upwards of 1,000 homes, with the Fund ultimately approved for investment of up to €800 million in the medium to long term.

The Laois Offaly TD said the fund established has the backing of four credit unions: Core, Dubco, Heritage and Progressive and but is open to all credit unions throughout the country to invest in.

“I would like to congratulate the four Credit Unions on the establishment of a Fund authorised by the Central Bank to invest in approved housing bodies," said the Fianna Fáil TD.

"This will provide a welcome boost in delivery of social housing in Laois and all across the country. This was a commitment in Fianna Fáil’s manifesto that we have delivered in Government. This new Fund will help support the delivery of our Housing for All Action Plan, which is the largest State led building programme in Ireland’s history.

"The progress made by the Credit Union Approved Housing Body Fund and other collaborative ventures should inspire further growth of further collaborative efforts. In the months ahead, I shall bring forward new policy proposals to help grow and support credit unions,” he said.

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