People with loans and deposits in credit unions can rest easy as the Central Bank and Government stand ready to assist institutions if difficulties arise, Minister for Finance Michael Noonan has said.
He said they do not see problems with the Credit Union movement in general, but there are difficulties in some credit unions which can be fixed.
Last Friday, a court appointed "special manager" took over the running of Newbridge Credit Union.
The manager is to review the loanbook, funding and arrears at the branch.
The Central Bank had argued that there was an urgency involved in seeking the court order, to secure the credit union's financial position.
The move was supported by Mr Noonan, which he said was taken in the best interest of the credit union's members.
