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

As the credit unions must apply for this facility, will guidelines be issued by the Central Bank as to how they may apply? As for the debit cards themselves, could a situation arise in which some credit unions will qualify while others will not? I seek a level of practical detail on how this facility will operate. Will someone who has a debit card from a credit union in Limerick be able to use that card when shopping in Dublin? One major issue for the credit union movement at present is that as many credit unions are not paying a dividend, they are finding it difficult to attract deposits. Given this is the electronic age, I greatly welcome the placing on record of the point that the issue of ATMs and debit cards is progressing as a reality for credit unions. However, I seek practical details on how it will come into effect.

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