Gardaí probe €1m credit union loss

GARDAÍ and the Financial Regulator are investigating a €1 million loss which may have involved fraud at Waterford Credit Union.

The main focus of the Garda probe is external to the credit union, while the Financial Regulator is examining the circumstances which lead to the credit union becoming exposed to such a large loss.

A spokesperson for the Financial Regulator’s Registrar of Credit Unions, Brendan Logue, said the regulator is aware of the situation at Waterford Credit Union.