Members of North Longford & Arva Credit Union to consider next step in proposed merger with North Midlands CU

A Special General Meeting (SGM) of the members of North Longford & Arva Credit Union Limited has been convened for Wednesday, May 14 at 7pm as it moves a step closer to completing its proposed merger with North Midlands Credit Union Limited. 

Members may attend in person at the Breffni Arms Hotel, Arva or online via the Zoom video-conferencing platform. Registration for participation in the meeting will close on Saturday, May 10 at 5pm. 

Founded in 1987, North Longford & Arva Credit Union has been operating for almost 38 years, serving a large geographical area encompassing the north of Co Longford and the south-west corner of Co Cavan. 

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Siobhan O’Hara, Chairperson, North Longford & Arva Credit Union Limited, explained, “The credit union was founded in Ballinamuck and later opened its main office in Arva and a sub-office in Drumlish. We have grown from humble beginnings to a credit union with assets of €24m (including €9m in loans) and member savings of over €20m.”

She said, “After much deliberation, the Board of Directors has concluded that the best way to ensure that our members can avail of top-quality credit union services would be to examine the possibility of joining a larger neighbouring credit union, and having looked at a number of options, we believe that North Midlands Credit Union would be the most suitable partner for us.

For details of how to register for SGM click HERE

“We are delighted that our discussions with North Midlands Credit Union have been successful in this regard, and we are very pleased to recommend this transfer of engagements to our members. We are certain that being a member of the larger credit union will benefit our members by giving access to additional products and services, whilst retaining the local service in the Arva office.”

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Conor Isdell, Chairperson, North Midlands Credit Union Limited said the Board of Directors of North Midlands Credit Union was pleased to receive a request from the Board of North Longford & Arva Credit Union to consider a merger between the two credit unions. 

He remarked, “We firmly believe that there will be many mutual advantages for our combined membership from the proposed merger, often referred to as a Transfer of Engagements. In summary, the members of North Longford & Arva will benefit from the full North Midlands branch network and from the more comprehensive product and service range that a larger credit union can provide, while the members of North Midlands Credit Union will have access to an additional branch, as well as benefiting from the skills, enthusiasm and dedication that the volunteers and staff of North Longford & Arva will bring to the new, larger credit union.”

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North Midlands Credit Union has successfully completed five Transfers of Engagements since 2014 (including with Longford Town and Lanesboro / Ballyleague Credit Unions) and in all cases, the members have benefited in demonstrable ways.

Mr Isdell concluded, “We have the highest regard for the hard work and dedication that the volunteers and staff of North Longford & Arva Credit Union have invested in their credit union over the past 38 years. We look forward to working with them and hope that they will continue to give their time and expertise in the service of both their current members and our members who may find it convenient to use the office in Arva.”

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