Oireachtas Joint and Select Committees

Thursday, 31 January 2019

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

Credit Union Advisory Committee: Discussion

Photo of Kieran O'DonnellKieran O'Donnell (Fine Gael) | Oireachtas source

The base of my question is why lending growth has been so low. Are the credit unions losing money on SME micro finance? What is causing that? That leads into the restrictions on lending. Could the witnesses give their overall perspective on mortgages, current accounts and debit cards? There is a glorious opportunity for the credit union movement to fill the gap, while retaining the individual identity of the credit unions. It will require no State investment and it will operate at a local level and provide necessary competition to the pillar banks where there is a degree of arrogance creeping in again. Could the witnesses deal with those issues? I accept I am being very general but I want to know what is happening.

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