Boyle Credit Union managing director says merger a long way off

The managing director of Boyle Credit Union has confirmed merger negotiations are taking place but says it’s a long way from bringing a formal proposal to members.

Joe Currid was commenting after it emerged that plans are at an advanced stage for Boyle and Ballaghaderren Credit Unions to amalgamate.

He told the Joe Finnegan show that discussions have been ongoing for almost 18 months and that all amalgamations between credit unions are controlled by the Central Bank.

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He said that both credit unions will have to call meetings and have any proposed merger approved by members and this is a long way off. He also said there would be no negative impact on members.