Results 1-5 of 5 for aindrias moynihan segment:8930144

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Aindrias Moynihan: 68. To ask the Minister for Finance his engagement to date with credit unions that currently have a savings cap limit of €30,000 to increase this limit; and if he will make a statement on the matter. [22719/24]

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Aindrias Moynihan: There is a whole range of people who want to support their local credit union, including clubs and societies and people with savings. A number of them have been raising with me that when they go to draw down a grant to do work on the house, for example, or sports capital funding, they come across this cap on the amount of money they can have in the credit union. Has the Minister of State...

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Aindrias Moynihan: The issue has been raised with me by a number of different sources, including older people intending to do works on their own home who would be accessing a county council grant, or sports clubs advancing works on their own grounds. Instead of a bank, they are dealing with a credit union but when they go to draw down the grant there is a cap in force on their credit union account. They...

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Aindrias Moynihan: This is about a cap of €30,000.

Ceisteanna Eile - Other Questions: Credit Unions (21 May 2024)

Aindrias Moynihan: Just to clarify, the maximum of €100,000 is not an issue. It is not what is up for discussion. The issue is with far lower caps being imposed on credit union accounts in the region of €30,000. Some local credit unions in Cork are doing that. It would seem it is a more local or ad hoc arrangement. It is not clear on that. I ask the Minister of State to engage with the...