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DUBLIN, Ireland – Liam O’Dwyer, CEO of the Irish League of Credit Unions, says the country’s CUs are not in jeopardy despite a series of events that led to a number of Irish newspapers questioning the stability of Irish credit unions.

A run on Monaghan Credit Union by its members was started when the IFRSA’s (Irish Financial Services Regulatory Authority) Credit Union Regulator Brendan Logue ordered the credit union not to pay a dividend after the credit union wrote off 7.15 (US$9.23) million in historical bad debt.

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