Michael Creed (Cork North West, Fine Gael)
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Was the basis of restructuring that these were not financially sound post the crash?

However, the evidence in terms of the draw-down of restructuring funds, as alluded to by Deputy Pearse Doherty, does not sustain the argument that these credit unions were badly governed. There are undoubtedly issues that need to be addressed, but the concern expressed by the Deputy is not backed up having regard to the amount accessed from the fund put in place to position the credit union movement to meet the challenges following the economic crash and put it on a good footing for the future. The draw-down of €20 million from a €500 million provision suggests the sector is pretty healthy.