Barry Cowen (Laois-Offaly, Fianna Fail) | Oireachtas source

Like others, I welcome the opportunity to speak to this issue. I commend my colleague, Deputy Michael McGrath, for his work in the area, in conjunction with the credit union movement, and for putting before the House the concerns and fears of that movement. He has offered suggestions and alternatives, and the Government might pay attention to them.

It is obvious in listening to much of the debate this evening that the credit union movement has played a fantastic role in this country's history to date. I have heard the Taoiseach speaking about pillar banks but the credit union movement is as much a pillar of the economic and social life of this country as any bank has been or ever will be.

We would like to see the Government respond this evening to our discussion of the role that credit unions can play into the future, meeting the needs of today's society and playing its part in supporting many of the new poor, the new marginalised, the hard-pressed middle and those who cannot be helped by State or bank but who could be helped by peers. These peers are the men and women in their own communities who form the volunteers of the credit union movement. We have heard some Government Members saying that they see nothing wrong with today's credit union movement, or that they see no difficulties in the restrictive manner of the regulator of the credit union movement.

See this speech in context