Joan Burton (Dublin West, Labour) | Oireachtas source

Can a coalition of willing credit unions establish a body or work collectively to provide mortgages or significant loans relating to, for example, refurbishing houses and making them fit in the context of climate change challenges and lack of insulation? Could a coalition of willing credit unions provide small and medium enterprise, SME, finance? Approximately just 26% of credit union members' funds are loaned out productively.

This is a financial scandal at a time when local financial institutions, bank branches and so on are closing. The report raises some important questions about the services offered by Irish credit unions and structures to underpin them. We need to rejuvenate credit unions and provide diversified financial services in Ireland. As referenced by the Minister, the Central Bank seems to be able to regulate but not able to engender activity.

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