Oireachtas Joint and Select Committees
Thursday, 11 December 2014
Public Accounts Committee
Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013
11:40 am
Mr. Murray McCarter:
The legislation states clearly that the purpose of this fund is restructuring of the credit unions. As stated in response to an earlier question, credit unions that are restructured and do amalgamate tend to be stronger and, therefore, have lending restrictions lifted or lightened as a result. If restructures do take place, which is a voluntary process, the knock-on effect is ultimately stronger credit unions.