Central Bank takes control of Newbridge Credit Union

Discussion in 'Credit Union issues' started by Tyrone Laces, Jan 14, 2012.

  1. Tyrone Laces

    Tyrone Laces Guest

    RTE News etc:


     
  2. Slim

    Slim Frequent Poster

    Posts:
    1,694
    Probably for the best. All credit unions have had ample opportunity to reach the recommended reserves. New bridge is not part of the ILCU so does not have access to it's support and has not been subject to it's inspections, which would have flagged the problem earlier.
     
  3. ClubMan

    ClubMan Frequent Poster

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    43,688
    Apologies if this is slightly off topic...
    I just assumed that all CUs were members of (affiliated to or whatever?) the ILCU. Is the ILCU the only "umbrella" organization or are there others? Or are there some CUs (how many? which ones?) that are totally independent/standalone?

    Update: never mind - found the answer here: http://www.citizensinformation.ie/e...nce/financial_institutions/credit_unions.html