New name unveiled as two Cork credit unions merge 

Douglas Credit Union and Glanmire and District Credit Unions merge as Elevate Credit Union with some 30,000 members with combined savings of around €115m

At a ceremony held in the Douglas office of the new Elevate Credit Union were, from left: Michael O'Callaghan, chairman of Elevate Credit Union; Margaret Heffernan, vice-president of the Irish League of Credit Unions; Michael McGrath TD, the finance minister; Jimmy Harte, student at Rochestown College, and Roy McKnight, CEO of Elevate Credit Union. Picture: Brian Lougheed

The Finance Minister has hailed the merger of two of Cork's largest credit unions as a positive move that puts its members in a stronger and more sustainable position.

Michael McGrath was speaking as he unveiled the new name of the merged Douglas Credit Union and Glanmire and District Credit Unions as Elevate Credit Union.