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Seanad: Order of Business (28 Mar 2017)

Kieran O'Donnell: I always attempt to be brief.

Seanad: Order of Business (28 Mar 2017)

Kieran O'Donnell: The brief politician is an oxymoron. I hope that common sense will prevail. People need to be talking to each other to find a resolution. I am on record as saying that I feel the business model under which Bus Éireann has been operating, particularly with the Expressway routes, is effectively an unfair model. Up to 60% of its passengers are people who avail of free travel, whereas...

Seanad: Reports on Motor Insurance Costs: Statements (22 Mar 2017)

Kieran O'Donnell: I welcome the Minister of State, Deputy Eoghan Murphy, and compliment him on the work he has done in this area. There are two reports on the issue, the first of which is the report of the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach. The Minister of State also produced a report for his Department. Many of the points we had raised fed into the final document...

Seanad: Reports on Motor Insurance Costs: Statements (22 Mar 2017)

Kieran O'Donnell: The Senator might tell us the insurance company.

Seanad: Reports on Motor Insurance Costs: Statements (22 Mar 2017)

Kieran O'Donnell: I would say the broker is texting the Senator to make his name known.

Seanad: Reports on Motor Insurance Costs: Statements (22 Mar 2017)

Kieran O'Donnell: They could have been going to Lough Gur as well, which is on the way.

Seanad: Reports on Motor Insurance Costs: Statements (22 Mar 2017)

Kieran O'Donnell: At 2.30 p.m. next Tuesday.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)

Kieran O'Donnell: I welcome the witnesses. At this stage we are old friends and have been dealing with each other over many years. To cut to the heart of it, there was a report recently in one of the newspapers, perhaps theIrish Examiner, that credit unions were refusing deposits and did not wish to take in deposits. Is that reflective of the views of the credit unions on the ground?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)

Kieran O'Donnell: What is the reason?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)

Kieran O'Donnell: If the credit union takes in €10,000 over the counter, it must come up with €1,000-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)

Kieran O'Donnell: Out of its existing resources?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)

Kieran O'Donnell: The traditional lifeblood of the credit union involved it taking money from its members and then lending it out to its members. Typically, the money would have been on deposit with the local bank. That was the traditional model as I understood it and I have been a member of a credit union for virtually my entire adult life. I want to tease out the practicalities. Could Mr. Molan tease out...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)

Kieran O'Donnell: Is it a fact that some credit unions can afford to take in deposits and that they are profitable enough to be able to live with it? Is the fact that some are refusing to take in deposits a reflection of the individual credit union's financial capability? The fact that credit unions are refusing to take deposits from the ordinary person goes against all the principles of the credit union...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)

Kieran O'Donnell: What would be the witnesses' number one priority for the people they represent? What changes need to take place to solidify the growth potential of credit unions so that they would be secure into the future but would not put the prudential side at risk for their balance sheets?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)

Kieran O'Donnell: Does Mr. McCrory feel credit unions are like a creamery that does nothing more than collect milk and supply it to the bigger creamery?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)

Kieran O'Donnell: Matters are dictated by the bigger-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)

Kieran O'Donnell: It is a bit rural all right.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)

Kieran O'Donnell: Is there one item Mr. Johnson or Mr. Molan would like to see changed?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)

Kieran O'Donnell: If Mr. Johnson takes one bite at a time he will have a better chance of getting a result than looking for a myriad of items.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)

Kieran O'Donnell: What does Mr. Molan classify as community lending?

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