Tommy Broughan (Dublin North East, Labour) | Oireachtas source

The information I have from the Irish League of Credit Unions is that the capacity exists in up to 150 credit unions to develop shared services, not just back-office services, and they are ready to approach that milestone.

Great minds sometimes do think alike because I also am concerned that there would be political pressure from the larger banks. I accept we own most of them now. Pressure was brought to bear prior to the 1997 Bill and earlier Bills, perhaps going back as far as 1960, to ensure that the credit union movement did not become a serious competitor to branch banking for households and small businesses. That concern exists. I again appeal to the Minister of State to examine the formula. Perhaps following the Seanad debate he could return to the House with a proposal on shared services.

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