Seán Ó Fearghaíl (Kildare South, Fianna Fail) | Oireachtas source

I am shocked and disappointed by the Minister's response. It is vital that a local resolution to this matter be found. As these types of problems continue to afflict communities across the country, similar local solutions will be required in other locations. Combining Naas and Newbridge credit unions does not represent an adequate solution. The idea that one would address the problems in Newbridge by forcing its 38,000 members to join up with the 22,000 members in Naas is incredible. It is not the way we should go.

On the issue of non-traditional lending, if such practices were at play in Newbridge over a period of time, surely that should have been known to the auditors of the credit union and certainly to the special auditors, Grant Thornton, appointed to the union to report to the Central Bank on a three-monthly basis.

It is something that should have been known to the Central Bank long before now.

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