Oireachtas Joint and Select Committees

Tuesday, 21 March 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Overview of the Credit Union Sector: Discussion

4:00 pm

Mr. Kevin Johnson:

At various points, we have all supported and endorsed a proper regulatory structure so we would not for a second condone any breach of those regulations. All I would say is that when there is a movement with 9,200 volunteers and 3,500 professional staff, there will be occasions when something goes wrong. As we said in our opening comments, while 1% of the system fails through the greatest crisis we have experienced, overall, we have seen an excellent performance. We certainly would not condone any breach of requirements.

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