LETTERKENNY Credit Union has announced a merger with Swilly Mulroy Credit Union \u2013 describing it as an exciting opportunity for both credit unions.<\/p>\n
In a message to members, Letterkenny Credit Union Chairperson Paul Hume said the board this week passed a resolution to accept the transfer of engagements from Swilly Mulroy Credit Union.<\/p>\n
\u201cAs you will know, a clear pattern has emerged over the past few years of two credit unions coming together to form a larger entity in order to provide greater opportunities for growth, a wider range of services to the overall membership, to secure the future of their offices and to reduce their cost base,\u201d Mr Hume said.<\/p>\n
\u201cAfter 64 years in operation as a stand alone independent Credit Union, the Board of Letterkenny Credit Union has decided to follow a similar path following an approach from a neighbour credit union.\u00a0<\/p>\n
\u201cFor a number of months, we have been in negotiations with Swilly Mulroy Credit Union in relation to a possible merger. This is an exciting opportunity for both credit unions. Both the Central Bank of Ireland and the Irish League of Credit Unions are in favour of such a move.\u201d<\/p>\n
Mr Hume said the Board of Letterkenny Credit Union passed a resolution to accept the transfer of engagements from Swilly Mulroy Credit Union on Wednesday, March 18.\u00a0<\/p>\n
\u201cThe Board believes that this decision is in the best interests of all members and will result in a credit union that will be stronger and in a better position to meet the considerable challenges of the future.\u00a0<\/p>\n
\u201cThe combined organisation will have improved efficiencies and a wider range of services that members rightly expect from a modern credit union.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"LETTERKENNY Credit Union has announced a merger with Swilly Mulroy Credit Union \u2013 describing it as an exciting…\n","protected":false},"author":2,"featured_media":358697,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,1485,61,60,162489,52168,162490],"class_list":["post-358696","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-donegal","tag-ie","tag-ireland","tag-letterkenny-credit-union","tag-merger","tag-swilly-mulroy-cu"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/358696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=358696"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/358696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/358697"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=358696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=358696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=358696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}