Members of a Cork credit union that is currently in liquidation have been paid back nearly €40m of their deposits with the institution, which reopened its doors this week.

The former board of Charleville Credit Union says the Central Bank should have proactively helped it to find a merger partner rather than opting to put it into liquidation.

Provisional liquidators have been appointed by the High Court to a North Cork credit union due to its distressed financial position.

Gardaí were reportedly called to Charleville Credit Union yesterday morning as locals thought it was being robbed when, in fact, it had just been put into liquidation.

Provisional liquidators have been appointed by the High Court to a Co. Cork credit union because of its distressed financial position for a number of years.

The proposed merger between Charleville and Clonmel credit unions has been shelved.

Almost 40,000 members remain in the dark about a proposed merger of two large credit unions in Munster.

The Irish credit union movement has pursued members through the courts for debts of nearly €35m over the last three years.

Charleville Credit Union in Co Cork has secured €1,043,718 in court judgments against 16 individuals so far this year — the highest of any union.

THE story of how a small rural cheese factory grew into a major player on world dairy markets is recorded in a new book to be launched in Charleville, Co Cork, on Monday night.