Peadar Tóibín (Meath West, Sinn Fein) | Oireachtas source

Cuirim fáilte roimh an rún seo ó Fhianna Fáil. Is eagraíochtaí den scoth iad na comhair creidmheasa sa tír seo. Tá siad lonnaithe i mbeagnach gach baile agus sráidbhaile sna 32 contae. Is fíor-eagraíochtaí Éireannaigh iad. Is sampla iontach iad den phobal ag obair ar son an phobail agus iad ag tabhairt aird ar maitheas an phobail seachas brabús príobháideach. Tá cáineadh le feiscint sa rún seo agus tá sé tuillte ag an Rialtas. Tá cleachtadh leanúnach ag an Aire Airgeadais le fada anois maidir leis an rud seo. Tá sé ina phost le ceithre bhliain anuas agus tá easpa ceannaireachta léirithe aige. Tá easpa teagmhálacha leis na heagraíochtaí seo. Feictear é seo arís agus arís eile, go háirithe maidir leis an IBRC.

Níl na polasaithe atá ag an Rialtas soiléir ar chor ar bith. Níl polasaí sonrach ann maidir leis na comhair creidmheasa. Níl uaillmhian ar bith ag an Rialtas seo ó thaobh a dtodhchaí. In ainneoin an teip uafásach a tharla in earnáil na mbanc, d'éirigh leis na comhair creidmheasa teacht chun cinn gan an iomarca damáiste a dhéanamh dá bhféin nó dá gcustaiméirí, gan an iomarca fiacha á chur ar an Stáit agus gan an iomarca costais á chur ar na híocóirí cáin sa tír seo. B'fhéidir gurb an fhadhb ná gur coiméad na comhair creidmheasa go léir a n-aghaidheanna glan agus, dá bharr sin níl an Rialtas sásta aird ar bith a thabhairt dóibh. Tar éis tubaiste uafásach, tá na comhair creidhmheasa thar timpeall na tíre seo fós ag tabhairt seirbhísí iontacha dá gcustaiméirí.

The critique contained in the motion may seem harsh at first, but when one goes into the detail of the experience of credit unions in this country it is well warranted. The Minister has for the past four years become known as the hands-off Minister for Finance with regard to the impact he has made on the credit institutions in this country.

It is no different with the credit unions. He has a serious lack of ambition with regard to this sector in society. It is an excellent institution and an example of what volunteer communities can do for the good of communities around the country. As I have stated, it is a 32-county organisation.

Despite the failure of the banking system over the past number of years, credit unions have, through very difficult circumstances, still managed to provide a vital service to people. The Minister has indicated the number of engagements he has had with credit unions around the country. There is no doubt that the Government talks a good game when it comes to credit unions but actions speak louder than words, and it is time that the focus and priority is on these organisations. In our submission on the consultation regarding credit unions, we tried to impress upon the Government that it cannot simply treat credit unions like banks. The Government has argued that it understands this but its actions have not reflected that argument.

I hope we are moving to an age of proper regulation of financial institutions. I fear from what I have seen that the Government is being dragged that way instead of leading in that direction. Last year I asked the Minister for Finance for his views on whether the cumulative effect of the lending restrictions on credit unions and the lack of clarity in the use of discretion by credit unions is leading to a negative impact on the credit union movement. The heart of this issue is the cumulative effect on all these lending institutions; these organisations are being disempowered from carrying out their potential function within Irish society. In response to my question, the Minister told me that section 35 limitations are not working. I asked him to allow a common sense approach to discretion afforded to credit unions when they seek to extend or restructure loans or offer further loans to those who can pay. Shockingly, the Minister told me at that stage that I should move along and there was nothing to see here, as everything was fine the way it was.

The truth is there are swathes of this country where the talk of recovery is read about in newspapers, listened to on the radio or seen on television. These areas have very little economic activity and very few net new jobs are being added to particular economies. They are experiencing bank closures at the moment, with the flow of and access to credit being reduced in communities. The ability to deal in cash, as well as other activities associated with banks, is also being reduced. Footfall in towns is becoming smaller because the attractiveness of coming to those towns for a customer is lessening because the credit facilities no longer exist in them.

These forms of no-man's land are starting to appear around the country, and I know of the likes of Delvin in my constituency, which lost its bank recently. People must now go 15 or 20 miles to the nearest banks. They must travel on bad roads on reducing public transport to get to those banks. They are told to use the Internet to access other banks but many of these places are devoid of basic broadband infrastructure, so people cannot use the Internet to gain access. In many of these areas, however, there are credit unions that are well-staff and energetically managed. They also have capital. In the credit crunch we have seen throughout Europe and especially in this country, the lack of capital has been at the heart of the problem. We have these institutions, many of them rich in capital, but they have not been utilised or leveraged by the Government, which is quite shocking.

Credit unions present a major opportunity but they are currently being restricted by the Government. Some people argue that they might be hamstrung because the Government is confused about its policy but many others believe the truth is worse, as the Government has an antipathy for the sector because of its historical close relationships to the banking elite in this country. If that is the case, active damage is being done to these communities. Credit unions could fulfil the needs of first-tier microfinance very easily, and, in fairness, the Government has organised Microfinance Ireland, with a location in Dublin. There is no reason these credit unions could not be utilised, in part, to support that. The Government needs to carve out - not in a confused fashion but in a clear way - a sustainable, responsible and dynamic role for these societies.

The Government is on its last legs with respect to the length of time it has left in office, and as has been seen until very recently, it is struggling from crisis to crisis. I implore the Government not just to offer platitudes on the issue but to focus on the job at hand, using the credit unions as a catalyst for economic recovery right through provincial Ireland.

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