Joe O'Reilly (Fine Gael) | Oireachtas source

We have all reasonably and correctly bemoaned the full closure of Ulster Bank and the closure of branches of Bank of Ireland. I want to propose some responses, and request that the Leader bring them to the Government and provide an opportunity to debate them in the House. I start by proposing the empowerment of our credit unions. Credit unions can only lend 15% of their reserves on home mortgages. It should be low-risk, as whoever lends holds the deeds. It is not high-risk lending and it is becoming less so.The credit unions cannot hold reserves due to cost. If 25% of the Ulster Bank's deposits moved to credit unions they could not cope. They can only take low deposits and they are as low as €15,000 in some instances. They cannot operate proper cheque or debit card business. I believe that the rules of the Central Bank and the Department of Finance are too restrictive on the credit unions and something needs to be done in this area. I appeal to the Leader to bring this matter to the attention of the Government and suggest that we have a debate on this whole area when we can.

There are iconic beautiful buildings in various towns that have been vacated by various banks. They must be bought by the State, local authorities or the Government and used for public purposes, social purposes, public administration, cultural purposes and tourism purposes. These are beautiful buildings that cannot be let go and are central in each town. I ask the Leader to convey this matter to the Government and arrange a debate. It is an opportunity in the middle of quite a problem.