Dáil Éireann Debate, Tuesday - 7 February 2017
163. Deputy Pearse Doherty asked the Minister for Finance when the implementation group, as per the Credit Union Advisory Committee report, was established or will be established; and if he will make a statement on the matter. [5381/17]
Amharc ar fhreagra164. Deputy Pearse Doherty asked the Minister for Finance the way in which the membership of the implementation group to be established as per the Credit Union Advisory Committee report will be or was arrived at; the way in which the representatives of credit unions will be or are represented; and if he will make a statement on the matter. [5382/17]
Amharc ar fhreagraI propose to take Questions Nos. 163 and 164 together.
One recommendation of the Credit Union Advisory Committee (CUAC) in the Review of Implementation of the Recommendations in the Commission on Credit Unions Report (the Report) was that an Implementation Group be established for a specified period of time to oversee and monitor implementation of those recommendations in a methodical manner and to advise the Minister for Finance on progress.
Publication of the Report in July 2016 was just the beginning of the process. From September 2016 onwards CUAC continued working to enable a coherent implementation plan be devised. The Department has been working closely with CUAC.
In line with CUAC's recommendations, the Department invited one nominee from each of the following: Irish League of Credit Unions; Credit Union Development Association; Credit Union Managers' Association; National Supervisors Forum; and the Central Bank. The Implementation Group will also have a CUAC representative and will be chaired by the Department. This broad membership will ensure participation and contribution from all credit union perspectives.
Nominees have been notified that the Implementation Group will have its inaugural meeting on 20 February 2017. This meeting will be attended by all CUAC members. The term of the Implementation Group is for one year which may be extended at the discretion of the Minister. I look forward to receiving regular progress reports on the implementation of those important recommendations which I expect to progress without any undue delay.
