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Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014): Mr. Fergal Power: Yes. I am providing the up-to-date position. An amount of €19.1 million in total has been recovered, of which approximately about €15,000 is outstanding from two credit unions and which we are chasing. We have received €5 million from banks in the two years that the fund has been in activity and approximately €14.1 million from credit unions....
Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014): Joe Costello: Mr. McCarthy referred to a levy on the credit union of €5 million or €7 million. Is this figure levied each year?
Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014): Mr. Ronan Hession: I think the penetration rate is over 60%. People in the Irish League of Credit Unions may have better figures than that. By comparison, in the UK it is less than 5%. Credit unions are a big part of the landscape in Ireland in a way they are not in other countries, even where they are popular. In 2011, when the Minister made the statement, he was working on advice and...

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