Berehaven Credit Union wound up over governance failures

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

Berehaven Credit Union was wound up by the High Court on 23 July 2014, with provisional liquidators appointed over the Castletownbere credit union.

The Central Bank said corporate governance failures had not been rectified and that the credit union might be unable to meet its obligations. Its accounts showed a €50,000 net deficit and a €1.3 million capital shortfall, while attempts to transfer its business to another credit union had failed.