A MORE than 50% drop in profit at a Cork city credit union means members will not receive either a dividend or loan interest rebate in 2011.

ONE of the country’s largest credit unions faces a legal battle with its insurers to recoup more than€1.75 million spent on a combination of legal fees and settling cases taken by former disgruntled employees.

THE regulator of credit unions has emphatically rejected a claim that he installed a puppet board in a Cork city credit union to enforce his own agenda.