Published on January 22nd, 2018 | by BoyleToday.com
Local Credit Unions could merge
Boyle and Ballaghaderreen Credit Union’s could merge later in 2018.
Members of the Ballaghaderreen Credit Union were told of the merger at their AGM at the weekend.
Ballaghaderreen & District Credit Union Ltd is affiliated to the Irish League of Credit Unions since December, 1983 and has been serving members since March, 1984.
Currently member shares are €17.22 million, loans to members are €4.50 million with a membership
of circa 4440.
In their “Strategic Plan 2017 – 2018”, Ballaghaderreen Credit Union say “During the course of 2017 Ballaghaderreen & District Credit Union Limited commenced discussions with a neighbouring credit union as to a proposed merger, possibly in 2018.”
“This plan is short term as the board have a strategic priority for consolidation with a HLBC already submitted to the CBI. The resulting plan can be consider to be a “holdingstrategy” with a comparative time line articulated within the plan.”