Brian Cowen (Laois-Offaly, Fianna Fail)

As the Deputy knows, the question of solvency of credit unions is dealt with under the financial regulatory arrangements that have been introduced. We have a regulator for credit unions. The Deputy will also be aware of the indemnity that applies by league members in respect of any credit union that gets into difficulty. An indemnity is provided by the Irish League of Credit Unions in respect of which a fund is in place. I have received representations from credit unions on a number of matters, which are being dealt with primarily on the advice of the advisory council that was established for the purposes of advising the Minister for Finance on these matters. That is where it stands currently, as I understand it.

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