Oireachtas Joint and Select Committees

Thursday, 20 September 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Credit Union Bill 2012: Discussion (Resumed)

12:00 pm

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

The ethos of credit unions requires that directors are elected by members who are similar to the shareholders of a company. Is it possible to allow the treasurer to continue to reflect back to the membership while producing a formula that would tighten the structure? Treasurers effectively assume the role of manager of the credit union. Could the structure be revised to give more comfort to the regulator while maintaining the ethos of the credit union?

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