Mallow Credit Union in bid to expand into Charleville

Mallow Credit Union has applied to the Central Bank to have its area of operation extended to cover Charleville where the neighbouring town’s credit union closed last month.

David O’Connor and Jim Hamilton of BDO were appointed as joint provisional liquidators to the Charleville Credit Union in the High Court last month, on foot of an application by the Central Bank which said the north Cork institution was in a distressed financial position.

In a statement yesterday, Mallow Credit Union expressed its sadness at the situation in Charleville and said its board was “of the opinion that it was incumbent upon them to offer a full credit union financial service to the people who reside or are employed in that common bond”.