Two credit union chiefs sacked after probe

TWO senior managers of a Cork city credit union were yesterday fired by its board of directors following an independent investigation into management practices.

Alec Good and Patricia O’Neill, manager and deputy manager respectively of Gurranabraher Credit Union, were dismissed after what the board described as “an exhaustive, independent investigation into a number of issues relating to the management of the credit union”.

Both managers had been out of work on full pay, costing credit union members in excess of €2,000 per week, since June 21 last, for initially failing to co-operate with the investigation into allegations made against them. This lack of co-operation led to their suspension, but that suspension was lifted following a court appearance and then an out-of-court agreement between all parties. The agreement required both parties to co-operate with the investigation and not to return to work until it was complete.

The credit union’s disciplinary board recently met to discuss the findings of the investigation. Mr Good and Ms O’Neill were then given an opportunity to respond to the accusations levelled against them. Following this, the board met yesterday under the chairmanship of Cllr Con O’Leary and made the decision to fire them.

A statement from the board last night said it wished to make clear that the matters which resulted in this decision did not in any way relate to the security or management of the funds of the credit union.

It added: “The board is determined that any restructuring of management practices necessary to maintain the credit union’s preeminent position will be introduced.

Neither Mr Good nor Ms O’Neill, both of whom have worked for the credit union for more than 30 years, were available for comment.

Gurranabraher Credit Union has been the subject of investigation by credit union watchdog, Noel Martin Sisk, the Registrar of Friendly Societies, since June 2000. At an AGM two years ago, he revealed an abuse of expense claims at the credit union; an €8,888 spend on a weekend away for staff and poor investment practices. He also spoke of internal bullying and intimidation.

A number of consultants and investigators have examined all aspects of operations at the credit union. The cost of these investigations to members is not yet known. Gurranabraher Credit Union has 15,200 members and assets of €62m.