Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

I thank the Deputy for pursuing the issue on behalf of credit unions. She also mentioned the credit union in her own home town. It is important to note that 51 credit unions, representing some 50% of the sector in financial terms, currently have approval to provide current accounts and debit cards. This is the way forward. They must be able to meet the modern day requirements. I encourage the other credit unions in the sector to move into that area. Some credit unions offer a current account and cards but only allow a credit union member to withdraw cash from certain ATMs. I would like the credit union movement to have cards that can be used in any ATM of any financial institution. Getting more people using credit union facilities will help them to grow. I want to see the credit union system lending more money. Credit unions have a surplus of savings and deposits. It is important that they lend so they can earn a good rate on the loans, and earn income into the future.

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