Credit union membership in Ireland has reached a record level of over 2.6 million, says the Irish League of Credit Unions (ILCU).
Savings in the country's 535 unions has topped €7.5 billion, according to the ILCU. Loans given out by the unions total €5.5 billion, and the number of borrowers now exceeds 900,000.
ILCU president Mr John O'Regan said the growth in savings and membership was evidence of the "continuing popularity of the financial co-operative concept".
Speaking at the National Ploughing Championships in Laois, Mr O'Regan said: "People continue to become members because credit unions cater for all their financial needs and operate in a conscientious and inclusive way.
"The credit union movement is still managing to strike the right balance between voluntarism and commercialism and the end product is a top-class service," he said.