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

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...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

2 Yearly



Unlimited Access for 2 Years

This product does not auto-renew

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

Ires Reit has published results that cover the first half of the year. Here are the key takeaways

Killian Woods | 19 hours ago

Mindgeek, which runs popular sites such as Pornhub and Redtube, has been accused of profiting from material featuring victims of sexual exploitation

Barry J Whyte | 5 days ago

Organisations have to work harder to foster a sense of belonging when staff no longer gather daily under one roof

Jayne Lee | 6 days ago