Michael McGrath (Cork South Central, Fianna Fail)
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Question 74: To ask the Minister for Finance when he will establish the promised commission to review the future of the credit union movement and make recommendations in relation to the most effective regulatory structure for credit unions, taking into account their not-for-profit mandate, their volunteer ethos and community focus, while paying due regard to the need to fully protect depositors' savings and financial stability. [5659/11]

Michael Noonan (Limerick City, Fine Gael)
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The Programme for National Government 2011-2016 sets out the Government position with regard to the credit union sector. The Government recognises the important role of credit unions as a volunteer co-operative movement and the distinction between them and other types of financial institutions and will establish a Commission as described by the Deputy. The Deputy will be aware that, under the EU/IMF Programme of Support for Ireland, we have certain commitments in relation to the credit union sector. The Commission on Credit Unions will have the role of building on the strategy to secure the future of the movement which will be in place by end-April 2011 and I would wish to establish the Commission in due course.