Credit Unions
Dail Éireann — 2024-05-21
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Neale Richmond (FG), Dublin Rathdown

The Deputy might write to me with the specific nature of the query and representations being made. That might give me an opportunity to look at the matter in more detail and see what role I can play, cognisant of the independence of the Central Bank and also of the boards of individual credit unions. The most recent data we have is that 70% of credit unions have imposed their own member savings cap and the average there is about €49,000. The figure of €30,000 is way below both the actual cap implemented by the Central Bank and the average. However, those data are five years old at this stage. The landscape of credit unions was very different five years ago. There has been a lot of consolidation since and a number of amalgamations across the country, including in my own constituency. Perhaps the Deputy would write to me and we might have an individual meeting about it where it is appropriate, and I will see what can be done.

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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