'No merger plans' for CU

Kilcullen Credit Union has no plans to merge with any other Credit Union, members were told at the recent AGM, writes Brian Byrne. But that doesn't mean that the situation won't change should, for instance, future legislation require such a move.

The comment was in response to a question from Sean O'Reilly. Pat Stafford said there had been a presentation on the issue during the year, but Kilcullen wasn't contemplating any mergers. He said it was clear from the accounts that the local CU was in sound shape.

He was then asked if any such situation was contemplated, would it be the members who would decide, or would it be up to the Board of Directors?

The answer was that it would be the Board, as they were elected by the members to operate the Credit Union's business on their behalf.