Sir, – Recent reports of Judge Brian McGovern stating that “Certain professionals have been feasting on the carcasses of some companies” (Home News, July 27th) rings a bell in the Newbridge area.
As a member of Newbridge Credit Union for 30 years I – like many I know – have had good reason to be grateful for the service and support it has so efficiently provided to us local users over the years.
Beyond question, Newbridge Credit Union has been a pillar to our community.
As a member I therefore wish to ask the regulator imposed on our union six months ago and recently re-imposed for indefinite extra time (following which Judge Brian McGovern made his comments, above) the following questions.
Why has there been no annual general meeting – is this a breach of company law? It clearly marks a loss of democratic control over our community facility.
Why have we members and co-owners not been consulted nor contacted to explain what is happening to our union? Why all the secrecy and innuendo? What has the regulator been doing to justify his tenure for so long? What report has he to offer to us members?
On what grounds does he propose staying on, at an eventual cost to us estimated at over €1 million?
Why has there been no report issued to members? Is it not the case that our union in Newbridge, based on the sterling work of so many voluntary, unpaid, committee members, had built up over the years an impressive and functional co-operative?
Why all the silence, the non-communication of information, the refusal of basic explanation and responsibility to the members of the credit union?
What are the objective benefits accruing to the credit union heretofore and what are the advantages in extending this undemocratic mandate?
As well as a moral right, we have a legal right to know the answers to the above questions – unless we are to assume that we are living in some quietly fascist State.
I am proud of the achievements of our credit union: it has shown the banks the meaning of integrity and service and I strongly object to the way in which such a crucial community service has been demeaned and bullied. As co-owners, we members also share in the insult. – Yours, etc,