Fiona O'Loughlin (Kildare South, Fianna Fail) | Oireachtas source

I want to raise the issue of credit unions. As the Tánaiste knows, they are volunteer-led, community-based and not-for-profit. Indeed, they are part of the social fabric of our towns. I know this is the case in Newbridge in particular, where for few years we did not have a credit union and moneylenders were very active. Credit unions should not be equated with the banks. Last Friday, with a single stroke of his pen, the Minister for Finance, Deputy Donohoe, did exactly that. The credit unions pay a number of levies but, as of last Friday, the industry-funded levy has doubled for this year and will quadruple for credit unions by 2022. This is completely wrong. It is punishing our credit unions and their members. I ask the Government to reverse this decision and keep the levy as it is at this time.

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