Credit unions may opt for mergers with tough challenges on horizon

SOME Irish credit unions will likely merge their operations as the movement battles through challenges ahead.

This is according to US credit union expert Mark Myer, who said that there were great challenges ahead for the movement but that it was fortunate that it had not cost the Irish taxpayer any money.

He said mergers could be the way forward for some credit unions, adding that leaders will need to seek out possibilities of consolidation or collaboration that is “realistically aligned with their strategic plans or expectations”.