TD demands Newbridge credit union info

KILDARE South Fine Gael TD Martin Haydon is calling for a clear time frame on when the long suffering members of Newbridge Credit Union can expect an AGM.

KILDARE South Fine Gael TD Martin Haydon is calling for a clear time frame on when the long suffering members of Newbridge Credit Union can expect an AGM.

He has criticised the lack of information and clarity to members to date who in effect own the credit union and has written to the special manager Luke Charleton of Ernst and Young and the Central Bank on the issue of holding an AGM. He also raised the issue in the Dail recently.

“It is all well and good to say for the Central Bank to say it is business as usual at Newbridge Credit Union,” he said. “But not getting a dividend or not holding an AGM for two years in a row is not business as usual. There is a lack of clarity. A lot of the members have been very loyal and are keeping their money in there for a considerable length of time.”

In response Luke Charleton said the decision on the holding of an AGM requires that the Registrar of Credit Unions approve the end of year accounts and the holding of the AGM.

“By law no AGM can be held or arranged without this confirmation from the Central Bank in advance,” he said. “Members will be informed if such approval is received.”