Michael McGrath (Cork South Central, Fianna Fail)
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148. To ask the Minister for Finance the number of applications for credit union restructuring currently before the restructuring board; and if he will make a statement on the matter. [45973/15]

Michael Noonan (Limerick City, Fine Gael)
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To date the Credit Union Restructuring Board (ReBo) has provided assistance in 40 completed mergers involving 82 different credit unions.  ReBo has recently approved a further  6 mergers involving 12 credit unions.  ReBo meets on a monthly basis to review finalised merger proposals. There are currently no proposals in front of the board for its upcoming monthly meeting on 17 December.

ReBo is engaging with a further 114 credit unions and mergers involving a number of these credit unions may come before the board for approval during the course of 2016.

As stated previously, I am pleased that credit unions are engaging with ReBo as a business strategy to achieve the scale necessary to move to a more efficient and effective business model and as a means of strengthening the sector.