2 March 2012 No Comments by The Northern Standard

By Cianna McNally

A Clones town councillor this week called on Clones Credit Union to hold a public meeting for its members as an AGM has not been held in the facility for the past two years.
At a meeting of the town council on Monday evening correspondence received from the Deputy Governor of Financial Regulation with the Central Bank of Ireland Matthew Elderfield in response to letters sent from the town council about the situation in Clones Credit Union was discussed.
The letter said that the bank was subject to strict confidentiality requirements and could not comment on individual credit unions.
The Central Bank of Ireland worked closely with credit unions to resolve regulatory issues so that AGMs could be held, it added.
Independent councillor Peter McAleer did not feel that the response from Mr Elderfield was satisfactory.
“People are still in the dark as to what is happening, they deserve an explanation,” Cllr McAleer stated before proposing that a letter would be sent to Clones Credit Union asking that a public …

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