Members of insolvent credit union got €22m compo

The High Court has ordered the winding up of Rush Credit Union (RCU) in north Co Dublin.

It followed the appointment this month of provisional liquidators to the credit union which, the court heard, was insolvent.

The Central Bank, which applied for the winding up, said it had issued some €22.3m compensation payments through the deposit guarantee scheme to about 9,700 RCU members.