Darragh O'Brien (Fianna Fail) | Oireachtas source

I support this amendment, which is very similar to one we produced but which has not been tabled for discussion for technical reasons. However, I intend to table it on Report Stage. I agree with Senators D'Arcy and Reilly that more flexibility is required, especially when we look at the consolidation of the banking network. I am not saying the credit unions are not in the electronic age but we want to allow developments like electronically enabled payment accounts. It was the understanding of the credit union movement that this was agreed by the commission, but it seems to have been omitted from the Bill. While I accept a large part of the Minister of State's response, there are other issues to get over.

It is not sufficient to state that there will be a further report by the second quarter of next year. There is nothing to preclude this from being part of the Act. The Minister need not initiate that part but it can be laid down in law.

My colleagues have covered why this is important. We are facing a degree of consolidation within the credit union sector in any case, so credit union customers will require access to accounts, ease of payment and so forth. It is for the future viability of credit unions, when one considers the additional services that are also being offered by the post office network, which is a good thing. We support this amendment, and I intend to table a similar amendment on Report Stage if the Minister does not accept it.