Written answers

Wednesday, 18 December 2013

Photo of Seán Ó FearghaílSeán Ó Fearghaíl (Kildare South, Fianna Fail)
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79. To ask the Minister for Finance his views on correspondence (details supplied) regarding credit unions; and if he will make a statement on the matter. [54671/13]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The registration and regulation of credit unions is the responsibility of the Registrar of Credit Unions within the Central Bank, who is the independent regulator for credit unions. I have been informed by the Central Bank that engagements between it and individual credit unions are confidential. The Central Bank has previously confirmed that it is open to proposals to re-establish credit union services in the Newbridge area. Any proposal to establish a new credit union or to extend the common bond of an existing credit union is subject to regulatory approval by the Central Bank.

Photo of Martin HeydonMartin Heydon (Kildare South, Fine Gael)
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80. To ask the Minister for Finance if any credit unions have expressed an interest in extending their common bond area into the Newbridge area in view of the transfer of Newbridge Credit Union to PTSB in November; if there has been any engagement between the Central Bank and individual credit unions in relation to same; and if he will make a statement on the matter. [54721/13]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The registration and regulation of credit unions is the responsibility of the Registrar of Credit Unions within the Central Bank, who is the independent regulator for credit unions. I have been informed by the Central Bank that engagements between it and individual credit unions are confidential. The Central Bank has previously confirmed that it is open to proposals to re-establish credit union services in the Newbridge area. Any proposal to establish a new credit union or to extend the common bond of an existing credit union is subject to regulatory approval by the Central Bank.

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