Court extends appointment of special manager at Newbridge Credit Union

The High Court has today extended the appointment of a special manager at Newbridge Credit Union in Kildare for a further six months.

The person was first appointed last January following an application from the Central Bank to oversee the running of the institution.

The special manager has already completed a review of the loan portfolio, prepared a viability plan and made a series of improvements to the systems, controls, governance and lending practices.

The extension of the appointment will have no effect on the continuing day-to-day operations of Newbridge Credit Union.