Mattie McGrath (Tipperary, Independent) | Oireachtas source

I want to raise an important issue. The programme for Government contains a commitment to using the credit unions and allowing them to help in the housing crisis and other areas. At the moment, the Central Bank seems to be bullying credit unions. Our one in Clonmel, of which I am a member, is being forced to merge with Charleville. There is a song about Charleville but the people in Clonmel have no real interest in Charleville. There are over 21,000 members. The Central Bank ran amok and allowed the banks to run amok under its watch in the past decade. We know the consequences of that. Will they now destroy the credit unions? Both of these credit unions are pretty large. Charleville has large debts and a merger is being forced. The people are incensed about this. We are looking for information from the board. The board has to do its job. Is legislation being forced? Will the Government bring in amending legislation to the Central Bank Act and not coerce honest and decent credit unions that have served the people well for decades into a situation of having to merge with a credit union that is 50 miles or 60 miles away?

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