The potential mega-merger between Irish credit unions Clonmel Credit Union and Charleville Credit Union is under threat as opposition grows. Members of the former are concerned that the latter will prove too costly, as it requires a bailout of around €4m to €5m to tackle issues going back seven years. A number of members have already signed up for an email campaign against the merger, which they say would be “financially devastating” in terms of job losses at both institutions.
The potential mega-merger between Irish credit unions Clonmel Credit Union and Charleville Credit Union is under threat as opposition grows. Members of the former are concerned that the latter will prove too costly, as it requires a bailout of around €4m to €5m to tackle issues going back seven years. However, the Irish League of Credit Unions and regulators are backing the merger.