Heather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

There is no question but that volunteers have played a huge role in the credit union movement and that it is very important that we protect them. The credit union movement has changed completely and volunteers and their role need protection. We must ensure they will continue to play an important role.

It would be very useful for the committee to know how many credit unions do not have paid staff in order that we have a broad view of the issue. With regard to the role and responsibilities of the treasurer, as Mr. Owens said, the credit union movement has changed during the years and the treasurer's role was defined when credit unions were at a different stage of development and most did not have professional staff. However, that is no longer the case. It might be said credit unions have become victims of their own huge success. The same has happened with regard to the role of manager during the years. Clarity must be provided and the role must be defined clearly in order that in the overall framework of corporate governance we have accountability and responsibility. Treasurers and managers must also be accountable to credit union members. It is important that the roles of manager and treasurer are clearly considered, defined and provided for in the Bill. The credit union movement has changed significantly in the past 15 years. Unfortunately, some of the old rules must change, but that is something everybody accepts.