Two Galway based credit unions have announced their intention to merge their respective operations into one business.
Oughterard Credit Union in the west of the county is to merge with the city based credit union St Anthony’s & Claddagh Credit Union to create a credit union of some 36,000 members and over €160 million in assets.
This joint agreement was reached between the boards of both credit unions following discussions between the parties to identify initiatives to strengthen their operations, improve the service to members and benefit from the efficiencies the merged operation will offer.
The merged entity will retain the name St Anthony’s & Claddagh Credit Union Ltd. It will now have three branches, in Bridge Street, Oughterard, Mainguard Sreet, Galway, and Westside Shopping Centre.
“This merger will represent a progressive and positive move by neighbouring credit unions in continuing the development of our businesses in line with member expectations,” said Gerry Joyce, manager of the amalgamated credit union. “It will create a larger stronger Credit Union which will be well positioned to meet the challenges of the current market environment while giving our members greater access to credit union services.
“I would like to express our appreciation to all staff, volunteers and members in both credit unions for their valued loyalty and we look forward to serving them at all three branches in the near future.”
