Credit union submissions not yet published

Credit Unions made submissions to the Government-established Commission on Credit Unions.

Published on 28/05/2012 18:27

THREE Kildare based credit union boards made a submission to the Government-established Commission on Credit Unions.

Just 77 of the over 400 credit unions lobbied or made any contribution to the Commission finding but they included submissions from Maynooth, Monasterevin and Naas credit unions, around 25% of the county’s unions.

Other submissions came from private companies, bodies such as MABS and financial service industry lobbyists.

A few credit union chapters, each representing a number of credit unions, also made submissions.

Others were made by individuals, including this reporter.

Despite legislation planned very soon for the credit unions, under an EU/IMF agreement, and the launch of the Commission’s final report on 18 April, none of the submissions had appeared on the Department of Finance’s website at the time of going to press.

Asked about this a Department spokesperson said last week: “The submissions will be published by the Department of Finance, in accordance with the wishes of the Commission. The website has not yet been established. We expect that this will be done over the next number of weeks.”

The Government is not delaying on legislation which could have major implications for the credit union movement.

Asked about the legislation, the spokesperson said: “We expect legislation to be enacted during 2012. Heads of bill are being prepared and will be presented to Government shortly followed by publication of the Bill in the summer in accordance with commitments under the EU/IMF

Programme.” The Commission’s report is published on the Department of Finance website.

- Henry Bauress

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Credit union submissions not yet published

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