Pearse Doherty (Donegal, Sinn Fein)
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163. To ask the Minister for Finance the number of proposals from the credit union movement the Central Bank of Ireland or he has received related to social housing; the action taken to date to implement these proposals; and if he will make a statement on the matter. [6155/16]

Joan Collins (Dublin South Central, Independent)
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180. To ask the Minister for Finance further to Parliamentary Question No. 30 of 18 November 2015, the position regarding the progression of the proposal from his officials. [6255/16]

Róisín Shortall (Dublin North West, Social Democrats)
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181. To ask the Minister for Finance his views on the proposal from the National League of Credit Unions to make deposits available to approved housing bodies in order to fund a major public housing programme; and if he will make a statement on the matter. [6270/16]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 163, 180 and 181 together.

The Department of the Environment, Community and Local Government is the Department primarily responsible for the formulation and implementation of policy and for the preparation of legislation in relation to housing. 

I have been informed that Minister Alan Kelly and Minister of State Paudie Coffey at the Department of the Environment, Community and Local Government met with the Irish League of Credit Unions in December 2015 to discuss a submission containing a proposal setting out a means by which funding could be provided to Approved Housing Bodies, by credit unions, for the development of social housing.

While the Registrar of Credit Unions at the Central Bank is the independent regulator of credit unions, bilateral engagement has taken place between my Department and the Department of Environment to consider the potential regulatory and legislative implications of credit union involvement in social housing funding.

The Central Bank commenced a number of new regulations for credit unions on 1 January 2016.  Prior to their commencement, following careful consideration, some modifications were made, including to Regulation 25(2) which makes reference to the fact that the Central Bank may prescribe, in accordance with section 43 of the Credit Union Act 1997, further classes of investments for credit unions which may include investments in projects of a public nature.  The effect of these modifications is that regulation 25(2) now specifically provides that investment in projects of a public nature can include, but are not limited to, investments in social housing projects.

Although proposals received to date are at a very early stage of development, my Department is always open to meeting with credit unions and their representative bodies  to discuss new ideas.

While the Government recognises the important role of credit unions as a volunteer co-operative movement in this country, the Government's priorities remain the protection of members' savings, the financial stability of credit unions and the sector overall and it is determined to support a strengthened and growing credit union movement.

Pearse Doherty (Donegal, Sinn Fein)
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164. To ask the Minister for Finance if he will confirm that the Credit Union Advisory Committee will carry out a review of the implementation of the recommendations of the Commission of Credit Unions to be published by June 2016; and if he will make a statement on the matter. [6156/16]

Michael Noonan (Limerick City, Fine Gael)
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In December 2015 I invited the Credit Union Advisory Committee (CUAC) to carry out a review of the Implementation of the Recommendations set out in the Report of the Commission on Credit Unions. 

Work on the review has commenced. I have been informed that as part of the review the CUAC has had discussions with a number of credit union stakeholders to date.  Those discussions will inform the final report, the findings of which, including any recommendations is expected to be presented to the Minister for Finance by 30 June 2016 for publication thereafter.