Ballyconnell Credit Union in Cavan is considering a merger with its counterpart in Ballinamore, County Leitrim. Both credit unions have been in negotiations after Ballinamore approached Ballyconnell proposing the possible merger. Ballyconnell will now put the issue to its members at an AGM on January 18th.
According to the Cavan branch, The Irish League of Credit Unions and the Central Bank of Ireland are in favour of such a move as are the Boards of Directors in both Ballinamore and Ballyconnell.
Some of the benefits of the newly combined credit union will be five days per week opening through its branch network of four branch offices in Ballyconnell, Ballinamore, Carigallen and Swanlibar. being able to speak to a Credit Union officer five days a week and access to a wider range of services including current accounts, debit cards and higher loan amounts. Both Credit Unions told Northern Sound that letters detailing the proposals will be sent out to the combined total of members in the coming days, ahead of the AGM.
