Paul Connaughton Snr (Galway East, Fine Gael)

I cannot understand why there should be a debate about the duration of a loan from a credit union, given that its core principle is that people must first save before they can get a loan. We have moved away from saving. The credit union is an organisation for the people run by the people and, whatever happens, I want a hands-off approach to any measures that might hold up the progress of the credit union movement. I hope the legislation liberalises the credit union movement so that it can take its place on the high street or in the smallest community with any banking institution.

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