Former Rush Credit Union manager banned from working in financial services

The former manager of Rush Credit Union has effectively been banned from working in financial services.

It follows an investigation into the north County Dublin branch which was wound up last year.

The Central Bank has issued an indefinite 'prohibition notice' on Anne Butterly from working in the financial sector.

The Credit Union she ran in Rush went bust last year after a series of allegations of mismanagement.

It was €2.2m in debt and liquidators were also trying to find out who won 15 cars, worth €220,000, which were supposed to be draw prizes.

After an investigation into unauthorised transactions, the regulator has effectively banned Ms Butterly from working in the sector.

She cannot take on any decision-making role in banking, investment, or insurance.

The Central Bank says the outcome shows its regulatory powers extend to individuals and not just firms.

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