Sunday 21 January 2018

More than 100 credit unions in merger talks

MORE than 100 credit unions are engaged in talks expected to see a number of them merging to form bigger units, it has been revealed.

Tie-ups between credit unions are being encouraged at official levels to help them expand their activities.

State body ReBo (Credit Union Restructuring Board) has been set up and funded to help voluntary mergers within the sector.

The latest restructuring has seen Progressive Credit Union in North County Dublin complete the takeover of Glasnevin-based Victory.

Some 107 credit unions are engaged with ReBo on merging, a spokeswoman said. ReBo is holding a one-day conference in the Aviva Stadium, Dublin, on Saturday.

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