Central Bank confirms no use for Newbridge CU premises in merger

By Paula Campbell

Reporter:

By Paula Campbell

The Newbridge Credit Union protest outside the Central Bank on Friday morning, August 9
The Central Bank has confirmed that the propsed combined credit union of Naas and Newbridge will not require the landmark Newbridge building.

The Central Bank has confirmed that the propsed combined credit union of Naas and Newbridge will not require the landmark Newbridge building.

In a statement released to the media, the Central Bank said that “as part of the combination Naas Credit Union does not require the Newbridge Credit Union premises as part of the transaction”.

It also stated, however, that “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 Central Bank declined to comment on what the plans are for the building, which is owned by the members, after a new premises is found for the proposed sub-office in Newbridge.

“However it is important to note that as the proposed combination is still subject to a number of conditions, nothing has yet been agreed or finalised,” the statement read. “Neither the Central Bank nor the Special Manager has sold, or agreed to sell, the Newbridge Credit Union building.

“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.”