Credit Unions should not be treated as banks

In Blog, Business & Jobs, Families by Denis Naughten

Today at the Finance Committee when I failed to move my amendment (see below) to the Finance Bill seeking a freeze on the introduction of an increased Central Bank levy on credit unions, I pointed out to the Minister for Finance that the Central Bank must recognise that credit unions are not for profit, community based and volunteer led organisations.

I told him that credit unions are not the same as banks and they should not be treated the same.

The reality is that many of the customers that use credit unions are not wanted by the big banks. 

Sadly because of procedural shenanigans I did not get an answer, but I await the Ministers reply.

Here is what I had hoped to do with my proposal:

This is the reason my amendments were disallowed:

Disallowance Letter – Deputy Naughton

Here arre my amendments