Oireachtas Joint and Select Committees
Wednesday, 5 July 2017
Joint Oireachtas Committee on Housing, Planning, Community and Local Government
Finance for Social Housing: Irish League of Credit Unions (Resumed)
9:30 am
Grace O'Sullivan (Green Party)
Link to this: Individually | In context | Oireachtas source
I would also like to see a timeline because we have a crisis here. I too am a member of the credit union and I think that this is a fantastic opportunity for the movement to get involved in an area that would support the community, which is part of the credit union ethos.
The Central Bank published a consultation paper on 11 May where it set out potential additional investment classes for the credit union. One such class was investment in tier 3 approved housing bodies. What is Mr. Sibley's opinion on that? Given the credit union's ethos of supporting communities from the bottom up, why would it not consider tiers 1, 2 and 3? My own view is that the credit union could use tier 1 as the low-hanging fruit on which to test the model, before moving up the ranks from there.