Oireachtas Joint and Select Committees

Thursday, 23 March 2017

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

Overview of the Credit Union Sector: Discussion

9:30 am

Photo of Paddy BurkePaddy Burke (Fine Gael) | Oireachtas source

Okay. Mr. Carville will have heard that the credit union movement has quite a large amount of money - up to €10 billion - on deposit that it is willing to use for housing and other forms of infrastructure in this country. It has no home for that money. The only thing it can do with it at the moment is put it into the banks, where they are probably getting no return on it because of low interest rates. This is creating problems for them. What is the Department's view on that?

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