FERMOY CREDIT UNION ‘BURNT’ BY ANGLO LIQUIDATION
Fermoy Credit Union is one of a number of credit unions around the country to be ‘burnt’ by the liquidation of the former Anglo Irish Bank. The credit union had €1.68million invested in a deposit product with the former bank. It’s looking unlikely they’ll get the money back.
The funds on deposit were due to be repaid this September to depositors. Asked by The Avondhu this week if the loss of €1.68million would destabilise Fermoy Credit Union, financial controller Marvin Board assured us that it wouldn’t.
Confirming that the credit union had a product with the former Anglo bank, he said they’d had no official confirmation as yet on any loss and are awaiting further information.
Friday 22nd February 12:56pm