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Sinn Féin welcomes Consumer Council support for extension of Credit Unions Financial Services

1 July, 2008

Sinn Féin Economic Spokesperson Mitchel McLaughlin MLA has called on Enterprise Minister, Arlene Foster to respond positively to the call by the Consumer Council to extend the range of Financial Services available from Credit Unions.

Mr McLaughlin said:

"I welcome the support from the Consumer Council for the extension of Financial Services that can be provided by Credit Unions. I believe that the Minister for Enterprise, Trade and Investment, Arlene Foster should act to remove the restrictions that prevent our Credit Unions from offering a wide range of Financial Services.

"We need to assist our Credit Unions to offer key financial services and provide practical options to allow people borrow, save and manage their money at an affordable rate, particularly in the present adverse financial conditions.

"The Consumer Council has now added its voice to the call by Credit Union of Ireland and Ulster Federation of Credit Unions for the provision of a wider range of services and investment opportunities to be made available to Credit Unions.

"Credit Unions are community based and the added income from expanded services, if reinvested in the social economy would strengthen confidence in the community to which the Credit Union belongs." ENDS

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