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Takeover will create €100m credit union

June 14th, 2016 7:20 AM

By Siobhan Cronin

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SKIBBEREEN Credit Union is to take over its Bandon counterpart, giving it total assets of over €100m and making it the largest Credit Union in West Cork.

 At the end of last month, the boards of both credit unions agreed to transfer the undertakings of Bandon Credit Union to Skibbereen.   

According to a statement from Skibbereen, the merger will be made official on June 21st, and ‘will bring together the combined vision of both credit unions to create a larger, stronger credit union that can better serve the needs of both communities’. 

By combining resources, the larger credit union will have over €100m in assets, incorporating members from the Mizen to Innishannon, making it the largest credit union in West Cork.  Donal O’Driscoll, Manager of Muintir Skibbereen Credit Union said this week: ‘We are excited about the new possibilities and added services for our members which this merger brings. 

‘The move combines the vision of both credit unions to develop new services and provide a community alternative to traditional banking, meaning all members’ needs are not only met, but exceeded into the future. With this merger, more than 30,000 of our members will now be in a position to take advantage of a range of benefits, including a wider range of services and loan products. 

‘We look forward to continuing to serve our members and building even stronger links with our local communities within our new common bond.’ 

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