Committee for Enterprise, Trade and Investment

Credit union Inquiry - Terms of Reference

The Assembly Committee for Enterprise, Trade and Investment has agreed to carry out an inquiry into credit unions.

The Committee will examine the r ole and potential of credit unions and opportunities and barriers in Northern Ireland.

Specifically the Committee will:

• Assess the current ethos, regulation and legislation of credit unions in Northern Ireland and compare these with provisions in Great Britain and Republic of Ireland.

• Compare the different services available to credit union members in Northern Ireland, Great Britain and the Republic of Ireland.

• Assess the role and contribution of credit unions in promoting the financial well-being of their members and wider community.

• Examine the legal and regulatory barriers preventing credit unions from participating in the ‘business of banking’ and promoting financial inclusion.

• Compare the role and availability of public funding available to credit unions in Great Britain, Northern Ireland and the Republic of Ireland.

• Examine what policy development and practices have taken place since the Review of Credit Unions.

• Assess the Treasury Select Committee recommendations on credit unions.

• Report to the Assembly on the Committee’s analysis and conclusions in relation to the above and make relevant recommendations.

Any organisation or individual with an interest is invited to submit written evidence to the Committee by e-mail (in the format MS Word) by 13 June 2008. Submissions should be structured to reflect each element of the Terms of Reference. Please note it is acceptable to respond only to those elements of the TOR that are appropriate to your organisation.

E-mail address: eticommittee@niassembly.gov.uk

Any enquiries can be made to the Committee Clerk, Room 424, Parliament Buildings, Stormont, Belfast, BT4 3XX. Tel: (028) 9052 1230.