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“Executive statement on Credit Unions welcomed” - McCann

16 December, 2008 - by Jennifer McCann

Sinn Fein MLA and Vice Chair of the Committee for Enterprise Trade & Investment Jennifer Mc Cann, has welcomed the statement from the Executive, that they will consider proposals to extend the range of services provided by Credit Unions here in the North.

She said,

"The Committee for Enterprise Trade & Investment have been conducting an inquiry into the powers of Credit Unions in the North. They don't have the same range of powers that their counterparts in the South of Ireland or Britain have under current conditions.

"Sinn Féin has consistently called for this to be changed to allow Credit Unions here to expand their services.

"Given the current economic climate and the fact that many people here don't have access to banks and other financial institutions, it is imperative that a community based scheme such as the Credit Union is able to offer the services needed by people.

"I welcome the Executives reference to the Credit Unions here, I believe there is a very real opportunity to expand on the services that the credit unions provide and allow them to become much more involved in community development through local Community Enterprise Schemes."


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