Michael McGrath (Cork South Central, Fianna Fail)
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Regarding the changes to the level of savings above €100,000, Ms McKiernan said:

Savings of over €100,000 represent a very small proportion, 1%, of total savings. We also note that, at the sector-wide level, credit unions are holding extensive deposits relative to their lending needs and many have self-imposed deposit limits well below our proposed cap.

While I know that Ms McKiernan's priority is to protect members' savings, does she accept that there is a reputational issue for credit unions? The signal that it sends is that any sum in excess of €100,000 is not safe in credit unions. That is a very negative signal to send.