All Berehaven CU depositors get their money back

Friday 01 August 2014 16.42
Berehaven Credit Union was placed into liquidation last week
Berehaven Credit Union was placed into liquidation last week

The Central Bank says it has completed the process of refunding depositors of Berehaven Credit Union.

Yesterday, the bank confirmed that it had paid out €10 million to 3,100 depositors, representing 85% of the total.

Today it said it had issued cheques to the value of €1 million to another 400 members, completing the process.

The credit union was placed into liquidation last week.

The Central Bank also confirmed that Bantry Credit Union has opened a sub-office in the former premises of Berehaven Credit Union on agreement with the liquidator.

It will offer services to the people of the Beara Peninsula who were left without a credit union after the liquidation last week.