Brian Lenihan Jnr (Dublin West, Fianna Fail)

On difficulties in individual credit unions, the registrar briefs my Department on a regular basis on the general position within the credit union movement. The credit union movement is in a relatively strong financial position with solid liquidity and reserves. The registrar has highlighted that of the 419 credit unions registered in the Republic, only a handful are affected by these difficulties. He continues to work closely with the boards of those credit unions that are encountering problems. Close oversight, monitoring and controls over those credit unions by the registrar is intended to assist them to address current issues and to ensure their long-term stability and sustainability.

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