Deputy Tom Fleming has called on the Government to allow the League of Credit Unions, which has a surplus of €8.5 billion, to play a role to solving the national housing crisis.
Deputy Fleming’s Question No. 524 to the Minister for the Environment, Community and Local Government:
To ask the Minister for the Environment, Community and Local Government his views on correspondence (details supplied) which includes positive proposals to progress and accelerate the Government’s strategy to address the housing crisis; and if he will make a statement on the matter. – Tom Fleming. For Written answer on Tuesday, 10th November, 2015.
Reply: Minister for the Environment, Community and Local Government Deputy Alan Kelly.
“I have received similar correspondence and a submission from the Irish League of Credit Unions which contains a proposal setting out a means by which funding could be provided to Approved Housing Bodies by credit unions for the development of social housing. I welcome the willingness of credit unions to actively seek a role in financing the delivery of social housing.
“The submission is comprehensive and contains some progressive and imaginative ideas. It sets out a proposal whereby the Irish credit union movement could create a dedicated funding vehicle to provide finance for social housing, in line with the aims of the Social Housing Strategy 2020.
“The proposal is currently being examined by my Department and I look forward to further engagement with the Irish League of Credit Unions on the matter.”
Deputy Fleming recently met with the League of Credit Unions raised the matter which he believes would be a ‘practical solution’ with the Minister for the Environment, Community and Local Government.
“The League of Credit Union’s surplus of €8.5 billion is money that is readily available and could be provided to Approved Housing Bodies. The Government should seriously consider this as a sensible solution to the housing crisis which has tens of thousands of people desperately awaiting accommodation.
“The Irish credit union movement could create a dedicated funding vehicle to provide finance for social housing, in line with the aims of the Government’s Social Housing Strategy 2020.
“I am calling on the Government to enhance the role of Credit Unions as financial providers for the housing crisis which would in turn create thousands of jobs while providing accommodation for those who are patiently awaiting a secure roof over their heads.”
Deputy Fleming added: “I was glad to hear from the Minister in his response to my parliamentary question, that this would be considered as an option.”
In his response to Deputy Fleming, Minister for the Environment, Community and Local Government Deputy Alan Kelly said he welcomed “the willingness of credit unions to actively seek a role in financing the delivery of social housing.”
“The proposal is currently being examined by my Department and I look forward to further engagement with the Irish League of Credit Unions on the matter,” Minister Kelly concluded.
Deputy Fleming’s recently launched website can be accessed with a click on the link here: http://tomfleming.ie/
