Dáil Éireann Debate, Wednesday - 17 September 2014
239. Deputy Pearse Doherty asked the Minister for Finance if he is going to proceed as previously promised with allowing the common bond areas of Kilcullen, Kildare Town and Rathangan Credit Unions be extended to cover the Newbridge area following the loss of the town's credit union. [33632/14]
View answerWhile the Government is absolutely determined to support a strengthened and growing credit union movement and has highlighted its support for the return of credit union services to Newbridge, my role is to ensure the legal framework for credit unions is appropriate for the effective operation and supervision of the sector.
I have been informed by the Central Bank that it previously confirmed its openness to any 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.
