Dáil Éireann Debate, Tuesday - 29 September 2015
283. Deputy Seán Ó Fearghaíl asked the Minister for Finance when he expects that credit union services will be made available in Newbridge in County Kildare, given the thousands of persons who urgently require this service; and if he will make a statement on the matter. [33325/15]
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 as Minister for Finance is to ensure the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. In line with the Credit Union Act, 1997 (as amended) the registration of a new credit union and the extension of a common bond of an existing credit union is the responsibility of the Registry of Credit Unions at the Central Bank.
I have been informed by the Central Bank that as previously confirmed it would consider any proposal that would provide for the restoration of credit union services in the Newbridge area, including the possible extension of the common bond of credit unions in the local area.
Accordingly, the common bond of Naas Credit Union was extended in February 2015 to include Newbridge and its surrounding areas, resulting in the restoration of the availability of credit union services to people residing or employed within this area.
