Closure of Credit Union Offices in Ballinagh, Belturbet, Kilnaleck and Killeshandra most regrettable – SMITH

Cavan/Monaghan Fianna Fáil T.D. Brendan Smith has expressed his regret with the decision to close the sub offices of Cavan Credit Union in Ballinagh, Belturbet, Kilnaleck and Killeshandra.

Deputy Smith stated that the Credit Union sector provides an invaluable service for so many communities around the country. He added that unfortunately Fine Gael and Labour in government placed additional regulatory burdens on Credit Unions which impacts on the viability of different Offices and results in additional costs for this sector. The Fianna Fáil T.D. stated that he fully supports good governance in the financial services sector but due regard must be given to try and lessen the burden on the Credit Union sector.

Deputy Brendan Smith complimented the voluntary members of Credit Unions throughout Cavan/Monaghan who contribute very significantly to the success of this sector at local level. He stated that he will be asking the Irish League of Credit Unions if arrangements could be made with Post Offices in smaller towns to transact Credit Union business which would be beneficial to rural communities.

ENDS 3/03/2016

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