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Tuesday 6 December 2016

Credit union group plays down key changes at branch

Published 24/09/2010 | 05:00

THE IRISH League of Credit Unions (ILCU) has moved to ease concerns about one of its branches, following the appointment of four new members to its board.

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It is also understood that a senior official has stepped down at the branch.

A statement from the ILCU has confirmed that "an in-depth review" had taken place at Killorglin Credit Union, Co Kerry, in the past number of weeks.

In a statement released to the Irish Independent, the ILCU said: "Killorglin Credit Union is safe and there is no need to worry about this credit union.

"A number of changes have taken place at the credit union in the past number of weeks to enhance its operations and these changes will not impact on the day-to-day activities of the credit union and most importantly there will be no disruption of services to their valued members."

It said the independent review was conducted with a view to establishing a plan to allow the business grow and prosper into the future

"Such reviews are routinely carried out in credit unions," the statement added.

Appointments are usually not made within the credit union movement before the annual general meeting which occurs after the end of its financial year in September. Killorglin Credit Union has 10,000 members and assets of €40m.

Irish Independent

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