We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Newbridge Credit Union sign. Photocall Ireland

Provisional meeting scheduled between Siptu and PTSB over Newbridge Credit Union

Siptu wants to meet with management after Newbridge Credit Union was taken over by Permanent TSB this week.

MEMBERS OF THE SIPTU trade union at Newbridge Credit Union have a “provisional” meeting arranged with management of Permanent TSB tomorrow.

A spokesperson for the trade union confirmed to that a meeting with management is scheduled to be held either tomorrow or Friday.

SIPTU, which represents 30 of the 37 staff at Newbridge, said its workers have been treated disgracefully by management in recent weeks and want their future to be clarified.


Newbridge Credit Union was taken over by Permanent TSB this week as it emerged that it had given out loans of up to €3.2 million – considerably more than the average credit union loan of €7,764.

Members of Siptu at Newbridge Credit Union met yesterday evening to discuss the fall-out from the institution’s transfer to Permanent TSB.

Today discussions about the takeover continued, with the head of the Irish League of Credit Unions dismissing reports that one quarter of the movement’s 393 individual establishments were in trouble and had been placed on a Central Bank watchlist.

Speaking today in the Dáil, Eamon Gilmore said that there are twenty credit unions that have reported regulatory reserves below the minimum requirement.

Read: Central Bank assessing issues at 100 credit unions>

Read: Credit Union chief says there is “no evidence” 100 movements are in trouble>

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Your Voice
Readers Comments
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.