Angry members plan public protest over shutdown
Published 25/07/2014 | 02:30
MEMBERS of Berehaven Credit Union furious over it being wound up by the High Court are to stage a public protest.
The members are to mount a protest outside its now closed offices in Castletownbere, Co Cork, tomorrow to vent their anger at how its 3,500 members were treated.
Six staff lost their jobs in the shutdown which was ordered by the High Court on the application of the Central Bank.
Long-time member Georgina Goulding organised the lunchtime demonstration to highlight local anger at how the community was treated.
"We knew absolutely nothing about this – we had no idea what was going to happen on Wednesday," she said. "This was a terrible blow for the community, for members and for the local business community.
"The protest is to highlight local anger at how such a vital local resource could be shut down without any consultation whatsoever with members."
Despite the fact the credit union has a €50,000 deficit in its accounts, all member savings – including accounts held by clubs and charities – will be protected.
Member savings are protected both by the Government's €100,000 deposit guarantee scheme and the Irish League of Credit Unions members bond.
The winding-up order followed a four-year battle to try and save the troubled credit union which for decades had been involved in supporting west Cork fishermen and local agri-food development.