Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

For tier 1 credit unions, lending advice states the maximum loan amount in excess of shares is to be specified, a maximum loan term of five years is in place and there is no business lending. A tier 2 credit union can give limited business lending while tier 3 is less restrictive business lending than tier 2 credit unions. This has been specified by the registrar of credit unions. Basically, there is no business lending for small credit unions while the middle range can engage in limited business lending and the larger ones have less restricted business lending. This will be further enunciated when the Bill is enacted.