Tullow Credit Union and St Canice’s Credit Union in Kilkenny have agreed a proposed merger of both financial institutions.
It comes after Staff at Tullow Credit Union embarked on strike action over the board’s refusal to recognise the Financial Services Union for collective bargaining.
The boards of both credit unions say the agreement will protect the Tullow office, maintain all staff positions and ensure members’ savings and loans remain unaffected.
The merger would also give members access to a wider range of services, including mortgages, current accounts and mobile banking, while creating opportunities for increased investment in local community groups.
Both credit unions say it will be business as usual during the process, with the proposed transfer of engagements subject to Central Bank approval.
Local Councillor Brian O’Donoghue spoke to KCLR News about the proposed merger and said that members of Tullow Credit Union must come first;
“I think the board and the staff and all management of the Credit Unions will say that the members have to be the main concern”.
“They would just want to know that their beloved credit union that has been there since 1967 is going to survive into the future”.
Tullow Credit Union said in a statement the the merger will strengthen regional community banking.
That full statement can be read here.
An additional statement from St. Canice’s Credit Union can be found here.
