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

3:25 pm

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

Just before the Deputy does so, I know of some substantial credit unions in the Cork city region that certainly would be able to operate such a service. At present however, they have in place a separation of accounts. One may have a loan account against which one has savings held and which are locked into that but one may also have a budget account or a savings account that is separate from that loan account and to which the debit card would be working. What is the presentable difficulty? If the credit unions can state, in respect of credit union members, that such a card is only applicable to money they can withdraw on call and is not attached to their saving accounts, what is the difficulty?

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