Michael Lowry (Tipperary, Independent) | Oireachtas source

A number of credit unions across Tipperary and indeed the country have been in contact with Deputies to say that because of Covid they are unable to hold AGMs. Under regulation, the payment of a dividend to members needs to be passed in advance at an AGM and this is not allowed by virtual means, so the dividend cannot be paid to the members. We are talking about sometimes €200 or €300 at Christmastime, when people have additional costs and expenses and the purchase of gifts, toys and extra food is required. Will the Taoiseach contact the Central Bank to ask it to give a directive to the Irish League of Credit Unions authorising credit unions to pay the dividend this year. All it has to do is make a simple amendment to allow credit unions to do this.

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