Special manager appointed to Newbridge Credit Union by High Court

A special manager has been appointed to Newbridge Credit Union this evening (Friday), following a request to the High Court from the Central Bank.

A special manager has been appointed to Newbridge Credit Union this evening (Friday), following a request to the High Court from the Central Bank.

Fine Gael TD for Kildare South Martin Heydon has today sought to assure members of Newbridge Credit Union that the day to day operation of the Credit Union will continue as normal.

Deputy Heydon said: “I would like to reassure the 35,000 members of Newbridge Credit Union that the announcement this evening will not affect staff or members who can continue to access their funds and pay off their loans as normal”.

“The Government is fully committed to the National Credit Union Movement and stand full square behind the members of Newbridge Credit Union and the wider national membership.”

“This move today by the Central Bank, with the knowledge of the Minister for Finance, is as a result of new legislation brought in in October and rather than raising concerns, this appointment should reassure members of the public that the proper regulatory systems are in place and working,” he said.