Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The credit union movement is an admirable one and we are lucky to have it in Ireland because it is a source of credit for many people who would not normally interact with banks. I am a very strong supporter of the movement. Last week I met with the representatives of the two main credit union bodies, together with a representative of the Credit Union Managers Association, to discuss the Credit Unions and Cooperation with Overseas Regulators Act 2012, the final part of which will be signed into law at the end of the year. We discussed various implications and minor difficulties that need to be ironed out in advance of that. I also indicated that we would review the implementation of the Act and that we would further consider extending the role of the credit union into the areas the Deputy suggests.

See this speech in context