Tuesday March 31, 2020

Berehaven Credit Union to be liquidated after "poor governance" - Central Bank

The High Court has approved an application by the Central Bank to appoint a liquidator to Berehaven Credit Union.

23rd July, 2014
Compensation payments will automatically be issued to members

The High Court has approved an application by the Central Bank to appoint a liquidator to Berehaven Credit Union in Castletownbere, Cork.

The central bank said that the action was taken because Berehaven was “no longer viable as a stand-alone credit union”.

In a statement this afternoon, the bank said “alternative options” to resolve the serious financial difficulties at the credit union were examined, but were found not to be feasible.

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