Gardaí are conducting an investigation into a credit union in Cork after an internal probe uncovered financial irregularities.
The investigation is under way at Gurranabraher Credit Union in Cork city.
In a statement, the credit union said a staff member had been dismissed as a result of its investigation.
Gurranabraher Credit Union was established more than 50 years ago and has assets worth almost €100m.
An internal investigation conducted for several months uncovered financial irregularities which have led to a complaint to gardaí and a referral of the matter to the credit union regulator at the Central Bank.
The complaint was made to the garda fraud unit based at Anglesea Street in Cork.
In a statement, Gurranabraher Credit Union said the credit union is insured and no member has been exposed to a loss.
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It is the second credit union in a week to confirm its affairs were being investigated.
Synergy Credit Union in Fermoy said a number of accounts had to be "replenished to their correct balance", following "unauthorised" transactions amounting to more than €400,000.
