RCU members backed the transfer by 96%, but North Midlands failed to reach the required threshold
A proposed transfer involving Roscommon Credit Union and North Midlands Credit Union will not proceed after the plan failed to secure the necessary level of support from North Midlands members.
Roscommon Credit Union said its own members voted overwhelmingly in favour of the proposal, with 96% supporting the resolution at a Special General Meeting.
However, approval was required from the members of both credit unions, and North Midlands Credit Union did not reach the required 75% threshold.
As a result, the proposed transfer will not proceed at this point.
Roscommon Credit Union said it fully respects the decision made by North Midlands members and stressed that there will be no impact on day-to-day services.
The credit union said members’ savings, loans and services are unaffected, while its three branches will remain open as normal.
In a statement, Roscommon Credit Union said the Board will now take time to consider the outcome and its future strategic direction.
It said the transfer process had been pursued because it was seen as an opportunity to strengthen services for members and support the long-term development of the credit union.
The statement added that those ambitions had not changed, and said the 96% support from Roscommon members gave the Board confidence as it considers the next stage of development.
Roscommon Credit Union also thanked members, staff and volunteers for their engagement throughout the process.
