Two Tipperary Credit Unions vote to merge, forming a new institution
After two very successful AGMs for both Thurles and Roscrea Credit Unions in April, in which members of both credit unions voted very strongly in favour of a merger, the newly merged entity went live on May 24 last, with both credit unions opening as a combined entity for the first time two days later.
Over the last few weeks, both offices have been working hard on the many implementation challenges that a merger of this size brings.
The combined entity now has over €170 million in assets and over 20,000 active members. The new entity will soon be called “Premier Credit Union”.
Work is at an advanced stage on the branding and a new logo for the credit union, with an expected launch of the new brand over the autumn period.
On May 26 last, the Chairperson of the new entity Amanda Ryan and CEO of the new entity, Brian King, travelled to the Roscrea offices to meet with members of the staff and management team and outgoing Roscrea Chairman Patsy Treacy.
Amanda Ryan paid tribute to all those involved with Roscrea Credit Union over the years and said she looked forward to the Premier Credit Union launch in due course.
Amanda noted that it had been a historic week for both credit unions and wished the staff, management team, and CEO every success in the future.
Brian King noted that the merger had been a long and challenging journey, frustrated by the pandemic.
Brian acknowledged the long hours and commitment of those that worked hard to get the merger over the line so successfully and said that throughout the process, theenthusiasm from both Roscrea and Thurles credit unions to join forces kept the momentum alive and ensured that we eventually got to form a new entity that will undoubtedly go from strength to strength in the years ahead.
Amanda and Brian wish to acknowledge the merger steering committee consisting of Ann Ryan, Toss Hayes, Sean Sherlock, Ena MacMahon, Martha Hogan, Pat McCabe, Patsy Treacy, and Brian King.
Tributes were also paid to former committee members Breda Manton andTom Noone, who was very committed to the merger project.
Frank Connolly, who stepped down as Chairman of Thurles Credit Union, was thanked for his support, as were all the directors, BOC members, and volunteers of both credit unions.
Cormac Heffernan was thanked for his help, and most importantly, Amanda and Brian thanked all the staff andmembers of both credit unions for their vote of confidence in the merger.
Looking to the future, Premier Credit Union will be investigating and onboarding exciting new products and services.
A current account is a must for all our existing and future members and will be prioritised over the next year.
The Credit Union is also investigating various options around getting into the mortgage market and was recently admitted as amember of the SBCI (The Strategic Banking Co-Operation of Ireland).
This will allow the credit union to commence lending into the broader SME market and build upon its success with its Cultivate Agri loan product over recent years.
These are exciting times for credit unions.
The now-merged Credit Union wishes to establish itself as its members and preferred and premier financial institution.
It offers a broad and diversified range of products and services sustainably through modern, digitally enabled channels.
Already they have an outstanding loan choice, and their mobileapp is proving to be particularly popular for those wishing to apply and draw down their loan from the comfort of their home.
The merged entry also has an expanded office base, and whether it is Thurles, Roscrea, Urlingford or Killenaule, you will be sure to find a farm and friendly welcome.
Exciting times indeed, and we wish them and all their members every success on their journey.
Full Caption: Left to right: Brian King (CEO), Ena MacMahon (Branch Lead, Roscrea), Liz Flynn (Loans Officer), Amanda Ryan (Chairperson), Patsy Treacy (Outgoing Roscrea CU Chairperson), Dymphna Breen (Loans Officer), Martha Hogan (Credit Control Manager)