Séamus Healy (Tipperary South, Workers and Unemployed Action Group) | Oireachtas source

The movement is concerned about the term limits on directors of credit unions and the prohibitions on the membership of their boards. In its opinion, these are unnecessary and are an attack on its volunteer ethos.

I wish to raise three other issues briefly. A memorandum of understanding must be agreed between the unions and the Central Bank and the office of treasurer must be retained. In addition, the tiering of credit unions is too wide. The movement believes that tiers should not be based on size alone, but also on risk and complexity of business.

I welcome the Bill and hope that the amendments suggested by the credit union movement will be included in the final legislation.

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