Rónán Mullen (Independent) | Oireachtas source

Ba bhreá liom fáilte a chur roimh an Aire Stáit. As the Minister of State is well aware, the credit union movement across the country is facing many issues and challenges. I am concerned about the proposal to combine the community credit unions in Naas and Newbridge. I have particular worries about the management of this proposal and the precedent it might set for the credit union movement across the country, which is a great community movement. The community in Newbridge has been left in a very uncertain position over the last 23 months, since a special manager was appointed to Newbridge credit union on foot of certain developments within that institution. There seems to have been a distinct lack of consultation with the community. It is time for the community to get answers to certain questions.

I would like to put some specific questions to the Minister of State and I would be grateful if I could get answers to each of them. Is there a plan B in the event of the failure of the proposed combination of Newbridge and Naas credit unions? Does the Minister for Finance have other options in place or lined up in the event of the proposed combination failing? Is he open to the recovery plan that has been proposed by people in Newbridge as an alternative? As the Minister of State knows, there is resistance and considerable concern about the proposed merger of the credit unions. What has the special manager achieved for the people of Newbridge and their credit union in the last 23 months? How much has the special manager cost Newbridge credit union at this stage? There is no need for me to labour the issues. This is a matter of considerable concern for the people of Newbridge and for people across the country whose credit unions face particular challenges relating to reserves, etc. I would be very grateful for some specific answers.