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

I want to recognise the huge work the Minister of State, Deputy Fleming, has done in this. He has put incredible energy into assessing where we are from a policy perspective with a part of our economy he understands well, namely our credit union movement. He regrets that he cannot be here to take the Deputy’s question but he is representing us on Government business in Brussels.

The Government recognises the importance of credit unions as a provider of community banking services. The programme for Government contains clear commitments to review the policy framework, enable and support the credit union movement to grow support credit unions in the expansion of services and enable the credit union movement to grow as a key provider of community banking services. The review of the policy framework has been completed and in July the Government approved the drafting of legislation to implement the proposals. The legislation has received priority status for publication in the Dáil’s autumn session.

The policy proposals contained in the review address a number of different and important objectives. Cumulatively, the desired outcome of these objectives is to strengthen the role of credit unions as a provider of community banking and to enable them further to focus on priorities that will better position the sector to face the challenges and opportunities of the future. In developing this important work, the Minister of State, Deputy Fleming, has met the Irish League of Credit Unions, the Credit Union Development Association, the Credit Union Managers Association, the National Supervisors Forum, the Registrar of Credit Unions, the Credit Union Advisory Committee, the Credit Union CEO Forum and collaborative ventures. As I do my work across the country I find that virtually every credit union I meet has met the Minister of State, Deputy Fleming. He has done huge work on this and the proposals he has brought forward are very meaningful. I know they do not deliver all that the credit union sector wants but they are capable of making a difference. The Government will do its best to legislate speedily for them.

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