Merger Update

8 June, 2024

MESSAGE FROM THE CHAIRS 

We hope this message finds you well. We are delighted to update you on the merger between Carrickmacross Credit Union and Dundalk Credit Union, which we announced last November. This is a truly transformative opportunity for our credit unions and will ensure our combined credit union will play an even more prominent role in the financial wellbeing of our members and our community, long into the future.

Feedback from members and the community over the last few months has been incredibly positive. Our integration preparation is progressing very well, and the staff in both credit unions, who are fully supporting this merger, have been working exceptionally hard together to ensure we are ready for the go-live date towards the middle of July.

MAINTAINING OUR HERITAGE, NAME & IDENTITY

For 60 years our credit unions have thrived, with our successes achieved thanks to the dedication of staff and volunteers, and the unwavering support of our members and the community. We think it is important to build on our heritage and we know our offices and our name are intrinsic to our identity.

For this reason, whilst we acknowledge a name change will be needed at some point in the future, any name change will ensure that our office in O’Neill Street will always retain Carrickmacross within the name, and our office in Market Street will always retain Dundalk within the name. We have also agreed that both offices will always be regional head offices, serving our combined membership as they are today.

MEMBER COMMUNICATIONS

Over the past few months we have engaged extensively with members, providing regular updates through our last annual reports, numerous information evenings with members and community groups, and regular in- office briefings with the teams in Carrickmacross and Dundalk.

These communications have not only kept you in the loop, but they have provided a platform for you to share your thoughts and ask questions throughout the process. The feedback from members has been overwhelmingly supportive.

Thank you for your ongoing support and participation. Together we are building a stronger more resilient credit union and a brighter future for our credit union and our community.

SECTION 130S & SGMs

This merger is transformative for our credit unions. It will greatly enhance our ability to provide you with innovative financial products and services and to be more resilient to meet the changing regulatory and competitive environments, while also providing a platform to strengthen our community impact.

The Board of Directors and staff in both credit unions are fully supporting this merger. Members will be receiving S130 packs and a Newsletter via post over the coming days, with further information about the merger and the SGM.

We encourage those members that wish to be part of this process to register and attend the SGM and to vote in favour of this merger.

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