Altura Credit Union part of €10 mil­lion ‘Me­tamo’ col­lab­o­ra­tion

Wicklow People (West Edition) - - NEWS -

ALTURA Credit Union is one of 16 of Ire­land’s largest credit unions who have an­nounced a €10 mil­lion col­lab­o­ra­tion with the Irish fi­nan­cial tech­nol­ogy com­pany Fexco.

The col­lab­o­ra­tion will see the for­ma­tion of a new 50:50 joint ven­ture be­tween the 16 investing credit unions, in­cor­po­rated un­der the name Me­taCU, and Fexco which will be called Me­tamo.

The new com­pany will have a fo­cus on prod­uct and tech­nol­ogy de­vel­op­ment for the sec­tor. Par­tic­i­pat­ing credit unions will also be able to ac­cess stronger col­lec­tive bar­gain­ing power at mar­ket level. Me­tamo will of­fer ser­vices to all other credit unions in the coun­try who are not part of the joint ven­ture in or­der to sup­port the con­tin­ued de­vel­op­ment of the sec­tor.

Barry Mon­aghan, Gen­eral Man­ager of Altura Credit Union said:

‘This is an ex­cit­ing day for Altura Credit Union which I am con­vinced will al­low us to pro­vide an im­proved ser­vice and set of prod­ucts to our mem­bers. Altura Credit Union is an in­te­gral part of sev­eral com­mu­ni­ties around Wick­low and Wex­ford and be­com­ing part of the Me­tamo joint ven­ture will mean we can mod­ernise to keep pace with other fi­nan­cial ser­vice providers.’

Wex­ford Credit Union, Thurles Credit Union, Lim­er­ick and Dis­trict Credit Union and Savvi Credit Union Dublin are also among the 16-mem­ber credit unions of the Me­taCU en­tity.

Me­taCU credit unions rep­re­sent over 480,000 mem­bers from across the coun­try, in­clud­ing 32,000 from Altura Credit Union, and have com­bined as­sets of over €3 bil­lion which is around 19% of the sec­tor. Me­tamo will be based in Kerry with of­fices in Dublin.

Altura Credit Union has six lo­ca­tions across North Wex­ford and Co Wick­low and its com­mon bond area stretches right along the east coast from south Bray to Cur­r­a­cloe in Wex­ford, and in­land to­wards Ferns and Tul­low.

The Altura Credit Union branch in Carnew.

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