Results 11,941-11,960 of 26,037 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: I know that. If a rate of 12% is being charged by the credit union, as at present, how is it losing money?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: On average, what percentage does the credit union-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: No. This is basic stuff. It is all very well saying there is a loss, but there has to be a reason. I want to know the rate of interest a credit union needs to charge to cover its overheads. The question one then has to ask is whether the credit union movement's cost base is too high. I have to ask the questions. I am here a long time and credit union representatives have been appearing...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: With due respect, I have a different interpretation of public banking. Mine is that a small credit union does not necessarily have to provide all services. A bigger credit union up the road could do so.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: The point I am trying to make is that-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: The small credit union does not have to take on the big loan; it can share the risk with the bigger one.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: Mr. Farrell represents a large number of credit unions. Will he tell me what is restricting growth in lending under the current rules?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: Are the credit unions losing money on micro-credit because people are defaulting on loans?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: To return to mortgages, how much can credit unions lend in terms of home loans? What are their limits?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: For how long can credit unions give mortgages?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: What amount can the credit unions give in a mortgage?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: What level of growth has been achieved in that area?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: How much?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: That is the figure for all the credit unions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: Are Mr. Farrell and the Irish League of Credit Unions open to a public banking model? What is Mr. Molan's overall view?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: It is genuine.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: Is that through EUROSTAT?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: It is called public banking.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: No, the Chairman is asking a specific question. This is like extracting teeth. We want to help here but we are being stonewalled. The Chairman asked a very simple question. Mr. Corr is saying there was not agreement as a collective. Let us break it down. The credit unions clearly wanted it to change so who did not want to allow the referral system from one credit union to another? Who...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Advisory Committee: Discussion (31 Jan 2019)

Kieran O'Donnell: I accept that.