Garret Ahearn (Fine Gael) | Oireachtas source

Currently, credit unions are unable to hold in-person annual general meetings, AGMs. There is no point in holding virtual AGMs because, without legislation being passed, they are unable to payout the annual loan interest rebate or dividend. The credit union in Clonmel, where I am from, has a dividend of approximately €1.7 million to distribute to members, which equates to between €200 and €300 per individual. It is always very welcome at this time of year. People spend it locally at Christmas time. It is an extra bit of cash that people need at this time. It is important that we bring through legislation to make it possible for credit unions to hold virtual AGMs that they might be able to distribute dividends. Will the Leader contact the Minister for Finance to ask that legislation be brought through as quickly as possible? I do not wish to over-promise that this can be done before Christmas in order that people could get payments before then, as that would be very tight. Nevertheless, it is a payment that people are very much used to and they really appreciate it. It is important that members are involved in credit unions. They give back a great deal to communities. It is no one's fault this has happened that they are unable to have a normal AGM. I ask that we would do something as a matter of urgency, for all credit unions but particularly for my own town in Clonmel.