Kieran O'Donnell (Fine Gael) | Oireachtas source

The Irish League of Credit Unions appeared before the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach, to discuss credit unions being able to make members' funds available through a special purpose vehicle for the provision of housing. Does HBFI fall within that ambit? I note the State is putting in €20 million of funding in the form of share capital. It is 100% owned by the State. The entity has borrowing powers under section 13(3), which states: "The total aggregate amount of principal which HBFI and any HBFI group entities are at any time liable to repay on foot of any liability incurred as a result of the exercise of a power under this section shall not exceed €750,000,000." Could this provide a vehicle where the credit union movement could provide members' funds towards an investment?