Gresham House has launched a new social housing fund for credit unions. With the target of EUR100 million (US$112.96 million), Gresham House Credit Union Income Fund will finance the acquisition and construction of about 350-450 homes over the next two years in Ireland.

The fund is already approved by Central Bank and intends to raise capital from credit unions to contribute to social housing needs. The portfolio of home projects will create a stable long-term income stream and the gradual return of the original investment over a period of 25 years.