172 credit unions are currently active in Ireland.
The latest quarterly results from the Irish League of Credit Unions reveals the total amount of loans has increased to almost €7 billion.
The figures show mortgage lending is continuing to grow, with an increase of 25% year on year, making up over 12% of overall loans.
Currently there are 172 active credit unions in Ireland, down from over 200 four years ago, following a spate of mergers.
Last year, the West Midlands Credit Union was formed with members of Athlone, Castlerea and St Jarlath's Credit Union in Tuam voting to join together.
However earlier this month members of the North Midlands Credit Union voted against a merger with Roscommon CU which would have seen it become one of the biggest community lenders in the State.
David Malone, CEO of the Irish League of Credit Unions says 105,000 loans have been paid out in the quarter alone:
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