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

On that section, it is a matter of good governance to have separation of employees and the board. The credit union movement is not unique but is based around volunteerism. Perhaps the Minister could examine having the board separate from its employees as a matter of good governance but, if the situation arises where a specific credit union cannot meet that criteria, it can make an application on the point of volunteerism. Smaller credit unions are extremely important.

Regarding section 15(10)(m), dealing with a member of a credit union who is in arrears for more than 90 consecutive days, we can overcome the problem if people exclude themselves from discussion at board level where there is a discussion on arrears. In any normal board situation, if there is a conflict of interest, someone steps outside. The key is to retain the essence of the section but to reflect the unique circumstances of volunteerism. It is very important and is one of the strengths of the credit union movement, particularly smaller credit unions. I expect the larger credit unions could overcome what is required in the section whereas smaller ones will have difficulty.