Newbridge Credit Union Building earmarked for Social Welfare Office

Paula Campbell

Reporter:

Paula Campbell

Newbridge Credit Union was on 'hourly liquidity watch'.
The Newbridge Credit Union (CU) building was earmarked as a “most favourable” option for the Newbridge social welfare office by the Office of Public Works in a trade magazine last March.

The Newbridge Credit Union (CU) building was earmarked as a “most favourable” option for the Newbridge social welfare office by the Office of Public Works in a trade magazine last March.

A clipping posted online, which the Save Newbridge Credit Union Facebook page indicates is from the Civil and Public and Services Union magazine, clearly shows the OPW’s interest in the landmark building. It has been attracted several comments and likes from Newbridge CU members, with one member likening the proposed merger to a “hostile takeover”.

The clipping states that the CU building has been identified as the most favourable option, adding that a decision will not be made on this until the end of April.

Rumours circulated around the town that the building had been sold or handed over to the Department of Social Welfare. However, the Central Bank in response to those suggestions, confirmed that “neither the Central Bank nor the Special Manager has sold, or agreed to sell, the Newbridge Credit Union building”.

The Central Bank, when contacted by the Leinster Leader about the magazine clipping said that their position has not changed from the update for members published on the Central Bank and Newbridge CU website last week.

“In our latest update to the High Court, the Central Bank provided details of the proposed combination with Naas Credit Union, which included a confirmation that as part of the combination Naas Credit Union does not require the Newbridge Credit Union premises as part of the transaction,” it reads.

“It is also important to note that credit union services will be maintained within the community and there is no question of anyone having to travel from Newbridge to avail of credit union services should the combination proceed.

“Until new premises are secured in Newbridge, it is expected that the combined credit union’s Newbridge operation would continue to operate from Newbridge Credit Union’s current premises.”

The OPW had not commented at the time of publishing.