Credit Unions
Dail Éireann — 2024-05-21
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Aindrias Moynihan (FF), Cork North-West

Just to clarify, the maximum of €100,000 is not an issue. It is not what is up for discussion. The issue is with far lower caps being imposed on credit union accounts in the region of €30,000. Some local credit unions in Cork are doing that. It would seem it is a more local or ad hoc arrangement. It is unclear. I ask the Minister of State to engage with the Central Bank and the credit unions on establishing how extensive the issue is. Given that a far higher cap is possible, there may be flexibility in it. This emerges, for example, when older people are getting a pension lump sum, when people are getting back money on a social welfare payment or when people are drawing down a grant from the council to re-roof the house. It is that lower end I am particularly focused on, and whether there is a possibility of flexibility, especially if it is an ad hoc cap.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2024-05-21/debate/main
Retrieved: 2026-08-14T04:52:59+00:00
Sitting date: 2024-05-21