Paul Connaughton (Galway East, Fine Gael) | Oireachtas source

Yesterday, there was a report in the newspaper about a savings protection scheme run by the credit union movement. The credit unions paid into a fund to help other credit unions and it has been in existence for a number of years. I raise it in the context that the Credit Union Restructuring Board, ReBo, came before the committee some months ago. ReBo uses taxpayers' money to help credit unions that may be in difficulty to amalgamate or work together. Is there a conflict regarding money the credit unions already had, how they are spending it and how taxpayers' money is being spent? Are they aware of each other's movements? Is the Central Bank aware of how the money is being spent? Is there anything we can do to move it forward? While it is operated by the credit unions themselves, if we are providing taxpayers' money to help the credit union movement, surely there is a link to the money they may already have.