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Ó Cuív, Éamon

Tuesday, 13 November 2012

Dáil Éireann Debate
Vol. Nbr.


Credit Union Bill 2012: Second Stage (Resumed)

I am pleased to have an opportunity to speak on the Credit Union Bill. Before we get into the minutiae of the Bill we should look at the background and purpose for which credit unions were founded...More Button

The other characteristic was volunteerism. Credit union committees were manned by volunteers and in many cases in the early years those who ran credit unions were volunteers as well. The final ...More Button

Some credit unions have grown to a considerable extent over the years. Perhaps that is a good thing. There is room for an alternative banking system based on mutuality, but there is still room ...More Button

The regulation of the sector is focused on the bigger credit union operations. I will be told that there are criteria governing the regulation but it seems that it is very much focused on the hi...More Button

I was involved for many years in a small co-operative. It was not like the big dairy co-operatives but a small community co-operative. I worked for it, was chairman of it and am still involved i...More Button

Elements of the credit union movement are going through the second phase, namely, the big mutual phase. I have no doubt that as organisations get bigger those that run them get even bigger aspir...More Button

Therefore, before we start talking about the minutiae of the Bill, we must decide what is the role of the credit union. I accept that in the case of bigger credit unions their role is to act as ...More Button

Credit unions will grow bigger and become more professional. They will require longer forms to be filled and they will become more strict on credit controls not based on local knowledge but on o...More Button

Credit Union Bill 2012: Second Stage (Resumed) (Continued)

Can the Minister of State not see that this will push people back to the moneylending, both legal and illegal, that credit unions did so much to reduce?More Button

When he replies he might answer the following question. His senior colleague stated he would have to put about €1 billion into the credit unions. In relative terms and compared to what was lost...More Button

As with everything else there are unintended consequences. I attended a meeting of credit unions recently and was told, "You burned the credit unions when you were in government." I asked how t...More Button

There are all kinds of fancy rules being introduced here about membership of boards, connected people and so on. A person cannot be on the board longer than a certain period. That is fine with ...More Button

I can think of other credit unions, such as Comhar Creidmheasa Cholmcille, which was founded in Indreabhán in south Connemara. When the bank pulled out of Carraroe it was able to put an office i...More Button

There is another issue of great concern, namely, the interaction between the Personal Insolvency Bill and credit unions. The banks, or the secured lenders, have the veto. When that Bill was bei...More Button

There is a need to ensure that our financial systems operate properly. When something goes wrong the greatest tendency is to over-regulate the small entity which did not cause the problem simply...More Button

It is true that the bigger an institution is the more it must be regulated. There is much in the Bill I have no difficulty with in respect of big professional financial organisations which need ...More Button

When one considers the difference between those on high incomes and those on low incomes in the context of accessing credit, one of the biggest determining factors relates to the capacity of the ...More Button

Mortgage Interest Relief Expenditure

Asked the Minister for Finance: the extra cost to the Exchequer in income forgone of granting 30% and 35% mortgage interest relief TRS to all householders who purchased house between 1 January 2000 and 1 January 2012, respectivel...More Button

Commemorative Events

Asked the Minister for Arts, Heritage and the Gaeltacht: the arrangements that have been made to commemorate the founding of Óglaigh na hÉireann by Éoin Mac Néill in 1913; and if he will make a statement on the matter.More Button

Tax Code

Asked the Minister for the Environment, Community and Local Government: the reason some guest houses and bed and breakfasts are exempt from commercial rates; and if he will make a statement on the matter.More Button

Agriculture Schemes Payments

Asked the Minister for Agriculture, Food and the Marine: when a person (details supplied) in County Galway will be paid their 2012 disadvantaged area based payment and single farm payment; and if he will make a statement on the matter.More Button

Disadvantaged Areas Scheme Payments

Asked the Minister for Agriculture, Food and the Marine: when a person (details supplied) in County Galway will be paid their 2012 disadvantaged area based payment and single farm payment; and if he will make a statement on the matter.More Button

Tourist Accommodation

Asked the Minister for Transport, Tourism and Sport: his plans to make it obligatory for all guest houses and bed and brerakfasts to be registered with Fáilte Ireland approved agencies in order to ensure a high standard in the provision of tourist ac...More Button