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Doherty calls on remaining Credit Union fund to be reinvested in communities

28 November, 2015 - by Pearse Doherty TD

Sinn Féin Finance Spokesperson Pearse Doherty has welcomed the confirmation that €230m of the fund established to aid the merging of Credit Union will be saved.

He called on the government to engage with the Credit Union movement to see how this money can be reinvested into the communities served by Credit Unions, reiterating his comments from the Dáil on Tuesday.

He said:

"I was happy but not surprised to see that up to €230m of the ReBo fund would be saved. It is testament to the professionalism of the Credit Union movement as well as to the health of the sector that so much will be saved.

“As part of its Six Steps plan, the Irish League of Credit Unions (ILCU) has anticipated a saving and has called on the State to work with them to see this money reinvested. 

“Given the regulatory challenges facing the Credit Union movement, I believe the right approach is to work with them to put this money to use in our communities.

“The ILCU have well thought proposals on social housing and financing SMEs that this money could be directed toward if the political will exists.”

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