Killorglin Credit Union transfer to Tralee approved

The Central Bank has secured High Court orders allowing for the transfer of assets and liabilities from Killorglin Credit Union to Tralee Credit Union.

The transfer was approved yesterday evening by Ms Justice Iseult O’Malley who was informed by Paul Gallagher, counsel for the Central Bank, that the move would not affect any of the Kilorglin Credit Union members or its employees.

Counsel said the transfer, was “in the the public interest”. The court heard Tralee Credit Union had been successful in its bid to acquire Killorglin Credit Union’s assets and liabilities. “While there won’t be a Killorglin Credit Union any more there will be a credit union in Killorglin,” counsel said.