Credit Union’s ‘No’ to merger
BRAY and Greystones Credit Unions will not merge, after Greystones members voted against the move.
While Bray voted in favour of the merger at last Thursday night’s AGM, Greystones voted 195 against, to just 20 in favour, after chairman Pat Killilea put the proposal to them. The AGMs were both held last Thursday evening at the same time, in the Royal Hotel in Bray and St David’s, Greystones, respectively.
BRAY AND Greystones Credit Unions will not merge, after Greystones members voted against the move.
While Bray voted in favour of the merger at last Thursday night’s AGM, the move cannot proceed without the agreement of Greystones members.
In a joint statement released in December, the credit unions announced their plans. The AGMs were both held last Thursday evening at the same time, in the Royal Hotel in Bray and St David’s Greystones respectively.
This meant that people who are members of both organisations could not attend both AGMs.
Members heard that this was advised by the regulator so that one meeting could not influence the other.
The vote in Greystones was 195 against and 20 in favour. The vote in Bray was 283 in favour, 19 against.
Former Greystones Mayor Kathleen Kelleher, who was present at the Greystones AGM, said that it was a respectful and courteous meeting.
Members were told that improvements would include mortgage loans, debit cards, and online banking, however they were not interested.
It was proposed that the meeting be deferred for an EGM, for the pros and cons to be discussed fully. However, members decided to proceed to the vote.
Members at the AGM praised the members of the board, whom they said work very hard in a voluntary capacity.
They acknowledged that the proposal was done in good faith, Ms Kelleher said, ‘ but in general they felt that there was nothing to be gained by them in joining Bray.’
She said that one member said the Greystones Credit Union would be ‘doomed’ if the merger was approved.
Members were concerned that the Kilcoole and Newtown branches would be at risk of closing in possible future voting situations, where they would be outnumbered by Bray members.
‘Both Bray and Greystones & District Credit Unions are mindful of ensuring the longterm provision of services for their members and community,’ said the Credit Unions in their statement last year, explaining their reasons for the proposed merge.
They said that the merger would deliver more sustainable credit union services for members.
‘Greystones & District Credit Union held its AGM in St David’s Greystones on Thursday 19 January. A significant resolution was presented by Chairperson Pat Killilea to the over 200 members in attendance, the proposed merging of the Credit Union with that of Bray,’ said the body in a statement.
‘ This proposal was the result of months of work by the staff and Board of the Credit Union, in collaboration with their counterparts in Bray.
‘A number of members, including founding members and past Directors, contributed their views to the constructive and positive discussion that took place at the meeting. In the end, the members of Greystones & District Credit Union voted overwhelmingly against the proposed merger, citing, in particular, concerns about the continued operation of the important offices in Kilcoole and New town mount Kennedy.
‘However, Greystones & District Credit Union’s current strong performance was also stated as a key reason to maintain the existing Credit Union. The members also formally expressed their gratitude and appreciation for the hard work of the board in their efforts to strengthen the Credit Union.’
Bray Credit Union CEO Bernie Robinson said ‘On behalf of the board, volunteers, management and staff, I would like to thank all our members who came out to vote in favour of a proposed merger with Greystones and name change.’