John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

I will circulate to the Central Bank the material I have on ACC Loan Management.

As a member of a credit union, I am a great fan and supporter of credit unions. Professor Lane indicted that the Central Bank had a clear vision for the credit union sector in terms of what credit unions should do, how they should be regulated and so forth. He noted that credit unions had dealt with the effects of the financial crisis. How does the Central Bank's vision for the role of credit unions align with the vision of the credit union movement? As has been well documented, a statement was made in the Seanad that sorting out the credit unions would cost €1 billion. The cost has been nowhere near that figure. Professor Lane noted that the credit unions had dealt with the effects of the financial crisis. Is it correct that they did so with their own money?