The Members of Link Credit Union and Cootehill Credit Union have agreed a merger of the two Credit Unions to create a stronger and more efficient Credit Union to serve the combined membership across the wider catchment area. The combined Credit Union will have assets of over €155 million and 24,000 members. The offices in Kingscourt, Bailieborough and Cootehill will remain open for members.
Chair of the Board of Cootehill Credit Union, Colm Mc Cormick commented, “I am confident that the decision to join forces with Link is the right one and will allow us to continue to provide an efficient and effective service to all our members. Experiences of other mergers have shown that members and their local communities’ benefit, as they can be part of a stronger, more efficient credit union which can provide enhanced loan and saving facilities across the local catchment area. Link Credit Union share our ethos and ambition to deliver modern financial services for members and this merger will provide a larger membership base for a stronger credit union which can better serve our combined membership”
Speaking about the move, Chair of the Board of Link Credit Union, Ian Primrose said, “This combination is an extremely positive move for members of our Credit Unions. It makes perfect sense not only from a financial and member service perspective but also an administrative one in the current regulatory environment.”
Members’ savings and loan accounts will be unaffected by the transfer. Members in Cootehill will see no change in the day-to-day operations of the credit union. There is now a 21-day representation period, after which it is envisaged that the two Credit Unions will become one strong Credit Union. In the meantime, it will be business as usual for both Credit Unions.