Rónán Mullen (Independent) | Oireachtas source

A number of speakers have expressed solidarity with the people of Newbridge on the loss of their credit union but the events of recent days are disappointing not only to the people of Newbridge but also to this House and the High Court. This House has once again been treated with contempt by the Government in the way the matter has been addressed. This day last week I asked the Minister the plans for the future of Newbridge Credit Union but I was told they could not be discussed due to the fact that the High Court had issued an order. Yet again, however, we find the Government telling the media its plans before it informs this House or even the High Court.

The events of recent days have sent shockwaves throughout the credit union movement. The speed with which the Government acted using these special powers - powers which were intended for its dealings with banks - was incredible. Now the people of Newbridge are left without a credit union. The Minister and the Department are sending mixed messages to the 2.8 million people in this country who are credit unions savers.