Credit union supports
Deputy Ryan asked what progress had been made on Government commitments to review and support credit unions. The Minister of State said he had met credit union representatives and agreed proposals for the legislation they want.
On page 25 of the programme for Government there are promises to:
- Review the policy framework within which Credit Unions operate.
- Enable and support the Credit Union movement to grow.
- Support Credit Unions in the expansion of services, to encourage community development.
What progress has been made to ensure that our credit unions, which stuck with rural Ireland while the commercial banks abandoned it, are being supported?
Comment on this
I met with all of the representatives of the credit union organisations earlier this month and we have agreed a series of proposals in respect of the amending legislation that they are looking for. I encourage credit unions - as, I am sure, everybody else in this House would do - to avail of the opportunity presented by the closure of so many bank branches and the fact that some banks leaving the country to offer financial services to people in their communities who need them and use this as a way of growing the credit union movement.