11. Deputy Tom Brabazon asked the Minister for Finance his plans to engage with the Central Bank to review credit union lending limits to enhance their ability to serve their members. [5037/25]

Sentiment score: 0.25

Gabhaim buíochas leis an gCathaoirleach Gníomhach. I dtús báire, ba mhaith liom a rá gurb é an chéad bhabhta dom a bheith ag labhairt os comhair an Tí seo. Teastaíonn uaim buíochas ó chroí a ghabháil leis na daoine i nDáilcheantar Chuan Bhaile Átha Cliath Thuaidh a chuir anseo mé. Is mór an pribhléid agus an onóir dom a bheith anseo agus teastaíonn uaim buíochas ó chroí a ghabháil le mo bhean chéile Liz agus mo chlann féin, mo thacadóirí, baill an pháirtí agus mo chairde uilig ar fad a chabhraigh liom san fheachtas chun teacht anseo. I thank my family and the party members, supporters and friends who got me here. It is a wonderful privilege to become a Member of this House. I sincerely thank them. I say to the people of Dublin Bay North who put me here that I hope to repay their trust with diligence and hard work. Does the Minister of State have any plans to engage with the Central Bank to review credit union lending limits to enhance their ability to serve their members?

Sentiment score: 0.44

I welcome that there is a substantial section in the programme for Government on credit unions. I also welcome the pledge that has been honoured to retain a dedicated Minister of State with responsibility for financial services, credit unions and insurance. I congratulate the Minister of State on his appointment to that role. I also wish to mention the former Minister of State, Deputy Fleming who made a very significant contribution to this whole area in the previous Government. Late last year, the Central Bank of Ireland published a review of the regulatory framework for credit union lending and launched a public consultation on proposed changes to the framework. The proposed changes will ensure the regulatory framework remains appropriate to the sector and will provide greater scope for the those credit unions which wish to undertake further house and building lending. Does the Minister of State expect to make progress on this soon?

Sentiment score: 0.64

The whole idea of increasing the lending limits will introduce a better service to the credit union membership as well as increasing competition within the financial services sector which is very welcome. I look forward to that. Has the Minister of State had a chance to engage with the credit union movement on this proposal since his recent appointment? Has consideration been given to bringing the credit union movement under the scope of the dormant accounts legislation?

Sentiment score: 0.49