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Credit Unions here must be allowed to offer members the same entitlements as in the rest of Ireland - McCann

4 February, 2010 - by Jennifer McCann

Sinn Féin MLA Jennifer McCann has called on the Enterprise Trade and Investment Minister Arlene Foster to intervene in expediating legislation that will enhance Credit Union services here.

Following a ETI Committee meeting in Stormont today Ms McCann said;

“Credit Unions in the Six Counties have the right to offer their members the same services as those members in the south and in Britain.

The ETI Committee published their inquiry reports into Credit Unions in February 2009 and in February 2010 and we are no nearer to bringing forward the legislation required.

Credit Unions provide accessible finance for local people and would, if the legislation was passed, provide access to Child Trust Funds, Insurance and a range of other services to its members. They could also provide much needed investment in projects that would help regenerate communities.

Once again we see legislation on financial affairs such as this having to go through Westminster and comply with bureaucratic British Treasury Rules – this results in long delays in legislation such as is needed to enhance Credit Union services and only goes to highlight further the fallacy in the lack of fiscal powers for the Assembly. I am calling on the Minister to intervene immediately.” CRÍOCH

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