Over 90 credit unions pursue merger options

Over 90 credit unions are pursuing merger options ahead of the 2015 deadline for new capital requirements in the sector, according to the Credit Union Restructuring Board (ReBo).

Moreover, in the first ever merger put to members, there was overwhelming support for a tie-up between Coolock and Artane credit unions.

At the end of last December there were 390 credit unions in Ireland with total assets of just under €14bn.