Nigel Scullion (NT, Country Liberal Party, Deputy Leader of the Nationals) Share this | Hansard source

asked the Minister representing the Minister for Families, Community Services and Indigenous Affairs and the Minister for Disability Reform, upon notice, on 29 November 2012:

With reference to the grant of $14 million from the Aboriginals Benefit Account that was approved for the Traditional Credit Union (TCU) in June 2011 and the following issues, which are having an impact on the ability of TCU to effectively deliver, compete and expand its financial services into remote Indigenous communities in the Northern Territory:

(1) Why is TCU required to cover upfront costs and then claim reimbursement, rather than being paid on an advance and acquittal basis.

(2) Why is TCU required to use the money of its members for the expansion of services and then claim reimbursement, given that this has not been a requirement of other grant recipients in the Northern Territory, including other large Aboriginal Development Corporations.

(3) Why is the TCU prevented from investing the grant funds, which would allow it to obtain and retain interest monies to assist with meeting the operational costs associated with the expansion of services to remote locations.