Naas Credit Union comments on regulatory communications

Naas Credit Union features in this years AGM bloopers. Having made provisions of €1.2m for losses in investments it should never have made in perpetual bonds it said:


....express [my] disappointment at what Mr. Logue, the Credit Union Regulator, has been saying in public forums over the past year or so. While I am sure what he says applies to some Credit Unions, unfortunately he appears satisfied to tar all Credit Unions with the same negative brush. Firstly, the criticisms do not apply to Naas Credit Union. Secondly, I believe it is very inappropriate for someone in his high profile position to be airing any of the movement’s undoubtedly dirty linen in public. He should deal with the Credit Unions in question one by one and certainly not in public.....