‘Tackle the sharks, don’t wave to the dolphins’ says Durkan

ADDRESSING the issue of credit unions at Westminster Foyle MP Mark Durkan last week urged the Government to ‘tackle the sharks, not wave to the dolphins,’ stressing the credit sector in Northern Ireland was different to that in Great Britain.

During a debate on the Finance Bill Mr Durkan said credit unions were different here and that in some areas over 50 per cent of the local population were members.

He said: “The low membership of credit unions in Great Britain has been mentioned. Credit unions in Northern Ireland have a high membership; well over a quarter of the population—in some constituencies the figure is more than 50%—are members of the very well-developed and well-funded credit unions.

“The credit union movement in Northern Ireland has made it very clear that it expects Parliament to take action against the predatory credit sector. The movement does not expect Parliament just to wave to credit unions; it says, ‘Tackle the sharks, don’t wave to the dolphins.’”