NMCU members turn down proposal to merge with Roscomon Credit Union

The members of North Midlands Credit Union have turned down a proposal to merge with Roscommon Credit Union.

North Midlands Credit Union held a Special General Meeting on August 19 to consider a proposed Transfer of Engagements with Roscommon Credit Union.

While a majority of members in attendance supported the motion, it did not achieve the required 75% level of support from those present. As a result, the proposal was not approved.

Derek Smith, CEO, North Midlands Credit Union Ltd, said: “While we are extremely disappointed, we respect the outcome of the vote. We acknowledge and thank the members for their engagement and for participating in the democratic decision-making process that is at the heart of the credit union movement.

“Our commitment to our members remains unchanged. We will continue to focus on delivering excellent service and supporting our local communities.”

Mr Smith said the CU board remain fully committed to serving the best interests of members and ensuring the continued strength and sustainability of the credit union.

“We have previously completed six transfers of engagements, all successfully integrated into North Midlands Credit Union. Those transfers have strengthened our Credit Union and enabled us to grow our services for our members.”

North Midlands Credit Union remains one of the largest and strongest Credit Unions in Ireland.

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