Tullow Credit Union announces planned merger with St Canice's 

THE BOARDS of Tullow Credit Union and St Canice’s Credit Union have agreed to a merger.

The merger, which is subject to the approval of the Central Bank and other legal transfer steps, will create a network of over 82,000 members across Leinster and the South East.

Under the Credit Union Act 1997, credit union members are not typically involved in the initial negotiations surrounding a proposed merger. Ordinarily, members are asked to approve a transfer of engagements by special resolution, although the legislation allows for approval by a board resolution where the Central Bank has consented to that approach.

The announcement confirmed that all existing branch offices will remain open, and day-to-day operations will continue as normal, while every staff and management position will be retained.

Members’ savings and loans remain unaffected, according to the announcement.

The announcement comes amid an ongoing industrial dispute at Tullow Credit Union.

Staff at Tullow Credit Union, represented by the Financial Services Union (FSU), entered into their ninth week of industrial action yesterday (Tuesday) over their request for the board of directors to recognise the union and engage in meaningful collective bargaining on pay, terms and conditions.

In September, the FSU described the “behaviour and actions” of Tullow Credit Union’s board as “deeply troubling” and called for a Central Bank investigation.

A spokesperson for Tullow Credit Union said the organisation was “confident” that merging with St Canice’s was the right decision and would allow it to continue providing an efficient and effective service to all members.

“St. Canice’s Credit Union shares 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. In summary, this initiative will protect our staff and maintain Credit Union services in Tullow and bring additional services to the area,” the spokesperson said.

CEO of St Canice’s Credit Union, Carmel Butler, said the merger was a “very positive move” for both credit unions.

“From a financial and services point of view, there are benefits to members of both credit unions that will greatly enhance our offering in our respective areas,” she said.

St Canice’s Credit Union is the largest community-based credit union in Ireland, serving more than 74,000 members across Kilkenny, Carlow, Laois and Tipperary.

If the merger is approved, Tullow Credit Union members will gain access to expanded service offerings, including current accounts, mortgages, personal and farming loans, insurance options, digital and mobile banking, and support through a dedicated Member Service Centre.