Board: Central Bank should have helped with a merger

The former board of Charleville Credit Union says the Central Bank should have proactively helped it to find a merger partner rather than opting to put it into liquidation.

In a statement, the board said: “It committed to doing same in an e-mail to the Charleville Board in August 2016.

The credit union movement would have underwritten a merger with another credit union without any cost to the State. This would have allowed credit union services to continue without any cost to the taxpayer.”