This article is from page 8 of the 2014-08-26 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 8 JPG
THE merger of Credit Union branches in Clarecastle, Ennis and Lissycasey will see no change in the day-today operation of their local branch, according to Credit Union chairpersons. St Francis Credit Union, Ss Peter and Paul Credit Union and Fergus Credit Union are to amalgamate in a process called a ‘Transfer of Engagements’.
In their addresses to members, the chairpersons of Lissycasey and Clarecastle branches say they are “confident” that the transfer of en- gagements will be an “extremely positive development” for members.
“The enlarged credit union will have offices in Ennis, Lissycasey, Kildysart, Kilmihil, Clarecastle, Tulla and Newmarket on Fergus. Members will see no change in the dayto-day operations of the credit union. Members savings and loan accounts will be unaffected by the transfer,” they state.
Madeleine McCarthy, Chairperson of Fergus Credit Union, Lissycasey, said the board took the decision to amalgamate with branches in Ennis and Clarecastle in the “belief that the interests of all our members will be best served by a combined entity providing enhanced services”.
Kevin Collins, Chairperson of Ss Peter and Paul Credit Unions, Clarecastle, states the board of directors “has been engaged in a process of seeking a credit union to partner to enhance services currently provided by your credit union”.
“I am happy to report to the membership that your credit union has approached St Francis Credit Union Limited, Ennis, to form such an alliance,” Mr Collins explains.
On completion of the Transfer of Engagements, members of Fergus Credit Union and Ss Peter and Paul Credit Union will automatically become members of St Francis Credit Union and will be entitled to avail of the range of services and benefits provided by St Francis Credit Union.
Details of the amalgamation are outlined in a document circulated to members.
In a statement under Section 130 (2) of the Credit Union Act 1997 (as amended), St Francis Credit Union Limited states, no payments to members of the three branches concerned is proposed in connection with the Transfer of Engagements.
The document states that “Staff at St Francis Credit Union Limited, Fergus Credit Union limited and Ss Peter and Paul Credit Union Limited have been fully informed of all aspects of the Transfer of Engagement and are very much involved in the merger process.”
Further details of the merger will be outlined to members at information meetings next month. Meetings will take place at Temple Gate Hotel on September 1 for members of St Francis Credit Union; St Mary’s Hall, Lissycasey, on September 1 for Fergus Credit Union and The Inn at Dromoland on September 1 for members of Ss Peter and Paul Credit Union. All meetings start at 8pm.