DUBLIN GAA stars Ciaran Kilkenny and Alan Brogan were on hand last month to help two local credit unions celebrate a merger that’ll benefit 35,000 members.
Community Credit Union officially opened for business on Tuesday, October 6, having completed a merge with West Cabra Credit Union in Dublin 7.
The new facility will retain the Community Credit Union name and it serves 35,000 members.
Both Community Credit Union and West Cabra Credit Union have been serving the communities of Dublin 7 and Dublin 15 for decades, providing local financial services on a co-operative basis.
West Cabra was formed in 1967, operating initially from rented premises before moving to a dedicated building in 1984. It has 5,000 members and five staff.
Community Credit Union was formed in 2010 through the merger of Premier Credit Union (formed in 1962) and Clonsilla Credit Union (formed in 1982) and operates in the Dublin 7 and Dublin 15 areas.
Community Credit Union has 30,000 members, employs 31 staff and operates three offices on the Navan Road, The Blanchardstown Centre and Castleknock.
Over the past five to ten years all Credit Unions have come under strong pressures due to the recession and other external factors. The Board of Directors at both Community and West Cabra decided that the best way to face these challenges was a merger that would create more services and secure the future for all members for many decades to come.
The merger means that Community Credit Union now has four offices and flexible opening hours offering an online banking facility, a mobile app, swift loan approval and loan protection insurance.
There are also express lodgement facilities in all offices and other services include payroll deduction, foreign exchange, bill pay and MABS Account.
Additional services will be rolled out over the coming months.
“These are exciting times for all our members, both old and new, and we look forward to using this merger to make our Credit Union even better,” said Community Credit Union CEO, Aidan O’Brien.
“The boards of both Credit Unions have shown great leadership in developing this project and should be applauded for their skill and foresight.
“Community Credit Union will now be one of the larger Credit Unions in Ireland, with over 35,000 members and assets of over €90 million, including savings of €78 million.
“Lending to our members is one of the most important things that we do and we have streamlined our loans department so that most members will receive a decision within 24 hours of providing us the necessary supporting documentation to consider their application, if not the same day.
“This is another great event in the history of our Credit Union and our community and we are delighted that local GAA stars of the Dublin football team and All Ireland Champions Alan Brogan and Ciarán Kilkenny could join us in celebrating this exciting new venture.”