Oireachtas Joint and Select Committees

Wednesday, 21 November 2012

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance

Credit Union Bill 2012: Committee Stage

3:05 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

We will agree to differ. We will leave it at that. Of course it is reasonable and correct that the Minister would want to ensure the safety of the deposits and savings of credit union members. I gather from his response that he is willing to consider any reasonable proposal that would both do that but also meet the objective of the credit unions, which could allow funds they have, which currently they are just putting in the banks, but which they would rather put elsewhere into purposes that might be beneficial to the Minister and the country’s interests. I hope he will examine the options. It seems a reasonable and credible aspiration on the part of credit unions and it should be examined.

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