Mattie McGrath (Tipperary, Independent) | Oireachtas source

My questions are very similar to those of Deputy Ó Broin and Senator Grace O'Sullivan. The delay is inexplicable and it seems to be the same across the board. As with everything in this little system of ours, it is just a matter of pushing paper backwards and forwards. I have been presented with more options from different groups and different organisations, and credit unions are willing. Any time we questioned the former Minister, Deputy Noonan, on this, he said "No" and that it was taboo. Even the credit unions were demonised as a whole because of the activities of one or two. We all know that if it were not for the credit unions, the country would not have survived through the recession, so why is there such resistance within the Central Bank and the Department? Perhaps the witnesses cannot answer for the Central Bank, but there seems to be a total taboo about this, that it just will not happen, it cannot happen and it is not a vehicle that could be used. This was the impression I got from the former Minister all through his tenure and, for that matter, from his predecessor.

When will it happen? Why is it so difficult to get clear, honest and straight answers to what the problem is? Credit unions will say they have the money - and not to throw around. The vast majority of them that I know are very prudent. I am a credit union member, like Deputy Ó Broin, and have some limited savings in them. People in the social housing organisations and voluntary organisations are looking to them. The vehicles are there, and it just seems we cannot crack this or the banks do not want the credit unions operating in their space. There is something more to the real truth than is coming forward as far as I am concerned. That is a personal opinion. We cannot seem to get at it. I would like to see whether we might get some answers in respect of this matter.