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 embers of the past sparked into flames over the last few days, as tales of ordinary madness reminded us, once more, of just how demented were the bubble years.

We cannot hope to resolve our economic situation without trust in institutions of the State.

A reserve fund for Irish credit unions is €50m lower than initially thought, it has emerged.

More credit unions will be restructured or merged over the coming years with at least another 20 so far having failed basic minimum standards.

The Junior Finance Minister Brian Hayes has admitted that more credit unions are in difficulties, but he says the problem is manageable.

Around 100 credit unions are on a Central Bank watch list because of concerns over the level of their reserves and bad debts.

Q. What’s the background to the takeover of Newbridge Credit Union?

Junior finance minister Brian Hayes says the bank takeover of Newbridge Credit Union is an exception and was done in the interests of preventing any knock-on difficulties in the financial sector.

WHETHER Newbridge Credit Union is an isolated example of a rogue institution in a relatively stable sector, or whether it is symptomatic of a much wider malaise is possibly a multi-billion euro question.

It is, perhaps, a parable of our times to see one failed financial institution take over another.

Permanent TSB Group chief executive Jeremy Masding has said it's "business as usual" at Newbridge Credit Union.

Newbridge Credit Union is to be bailed out at a cost of nearly €54m.

Permanent TSB could gain control of the troubled Newbridge Credit Union as early as this evening, once necessary approval is granted by the High Court.

The Newbridge Credit Union Action Group is describing as "unacceptable" a proposal for a takeover of the institution by Permanent TSB.

IN THE last five years, the banks, which cost taxpayers €64bn, continue to remain moribund. There has been no significant lending and their mortgage arrears problem continues to deteriorate.

The Central Bank has moved to reassure members of Newbridge Credit Union that there are no plans to shut the branch.

Members of Newbridge Credit Union in Co Kildare say plans to close the branch "will have a devastating impact" on small businesses.

A Central Bank report on the financial position of Newbridge Credit Union in Kildare shows a “degree of cautious optimism” about its future, the High Court heard yesterday.

A special manager appointed to run a Kildare credit union is willing to be cross-examined about the level of fees he is seeking for the job, the High Court heard yesterday.

The President of the High Court has extended the appointment of a special manager to Newbridge Credit Union to next summer, which will increase to €1.25m the costs to 37,000 members of that appointment sought by the Central Bank.

The High Court has today extended the appointment of a special manager at Newbridge Credit Union in Kildare for a further six months.

For years they have helped promote the values of thrift in local communities but the credit union sector is fragile due to some poor lending practices in the boom and so many debtors being unable to repay loans, says Kyran Fitzgerald

THE news that Newbridge Credit Union has been taken under care by the Central Bank is a source of great concern to depositors.

Finance Minister Michael Noonan said today that Credit Union customers can "rest easy" over their deposits and loans.

A Fine Gael Kildare TD is reassuring Newbridge Credit Union customers that their money is safe, after a Central Bank special manager was appointed to run the branch.

AN outside expert brought in by the Central Bank to run a credit union whose financial status has given serious cause for concern will be paid an hourly rate of €423 for his expertise for an indefinite period.

The High Court has ordered the replacement of the management and Board of Newbridge Credit Union in Co Kildare.

INTERVENTION by the Financial Regulator in the affairs of Newbridge Credit Union means members are likely to get less by way of dividends and rebate for the last financial year.

THE financial gospel according to money guru Eddie Hobbs was launched yesterday.