Saturday August 8, 2020

Drumcondra Credit Union had talks with 12 others in Dublin before collapsing

Court documents show the credit union‘s financial position had deteriorated for almost a decade and it was unable to pay its members a dividend since 2010

Ian Guider

Markets Editor

@ianguider
19th July, 2020
Drumcondra Credit Union: ‘In a financially distressed position Picture: Maxwell‘s

Drumcondra Credit Union engaged in rescue talks with a dozen credit unions in Dublin before it was placed in liquidation.

Two credit unions had entered into serious talks about taking on Drumcondra’s assets before its collapse earlier this month. One of these parties is thought to be Member First Credit Union, a large north Dublin credit union with half a dozen branches and nearly €300 million in assets.

Court documents released as part...

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