Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The credit unions are being supported precisely because we are recognising the potentially larger role they could play in the sector. A review of this has been under way and it has been led by the Central Bank because it is the regulatory body for the credit unions. I met representatives of all the credit unions a number of weeks ago in my Department and it was a very productive meeting to review the different actions we are taking and the opportunities and issues that present. The Central Bank will conclude its work during the year and will then provide us with the ability to assess whether this move should happen in addition to the significant volume of mortgage lending that a number credit unions provide.

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