Oireachtas Joint and Select Committees

Thursday, 20 September 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Credit Union Bill 2012: Discussion (Resumed)

11:30 am

Mr. Gerard McConville:

That is exactly right. With a credit card, even if a person's record is bad, that person can continue to raise his limit. The credit union would offer a flexi-account but the person would have to apply to the credit union to draw down on it. It is not something that could be drawn down automatically.