Credit union proposes changing name to ‘Altura’

A NEW name is on the cards for Gorey Credit Union who might amend it to ‘Altura Credit Union’ after the Annual General Meeting which is being held this Friday evening, December 15, in the Loch Garman Arms Hotel.

The motion for the AGM is for a name change that will represent the growth that the Credit Union has and is experiencing. The new name must be approved by not less than two thirds of the members present at the AGM with voting taking place at the meeting.

Last year, Gorey Credit Union added three new branches – Avoca, Rathdrum and Roundwood in Wicklow, and at last year’s AGM the board of directors were given the option of changing the name of Gorey, should it be deemed appropriate.

To facilitate the smooth transition of members to Gorey Credit Union in any future transfer of engagements that may arise to their extended bond area, the board of directors are proposing the motion to amend that the name of Gorey Credit Union be changed to Altura Credit Union.

Meanwhile, lending at Gorey Credit Union has slightly increased since last year from €48,771,037 to €53,228,423, while members savings total has gone up from €95,359,069 to a total of €103,797,677 at the end of this year.

President Patrick Kavanagh has recommended a dividend of 0.25 per cent and a loan interest rebate of 10 per cent on the standard rate loan, which is the same as last year.

The membership committee reported a growth during their financial year of 2016/2017 and members have increased by 650, bringing the total number in Gorey Credit Union to 27,942.