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We would like to say a huge ‘Hello & Welcome’ to all the MPCC Credit Union Members.

We look forward to meeting you all.

We are ‘Stronger Together’.

⚠️ STORM BARRA MEMBER NOTICE ⚠️

Limerick & District Credit Union have made the decision to close all offices today at 1pm to ensure the safety of all members and staff due to Storm Barra.

#staysafe #StormBarra #limerick

We are delighted to present to you, the members of Limerick & District Credit Union Limited and MPCC Credit Union Limited, the annual reports for both Credit Unions and information in relation to the proposed Transfer of Engagements of MPCC Credit Union Limited to Limerick & District Credit Union Limited.

You will find further details and information in relation to the proposed Transfer of Engagements in section 3 of the below booklet (pages 77 to 83). To summarise this proposal, if approved, it will bring the two Credit Unions together to form a Credit Union with over 40,000 members and over €163 million in assets. The Transfer of Engagements is subject to the approval of the Central Bank of Ireland and approval by members of both Credit Unions.

This merger arises from the belief of the Board of Directors of our Credit Unions that our members can be better served together and we consider it an ideal opportunity to grow and develop our services to members locally. The combined Credit Union will also be better positioned to meet the ever-increasing regulatory requirements.

The special resolution to approve the Transfer of Engagements will be voted on at the forthcoming virtual Annual General Meetings.

The Boards of Directors of both Credit Unions are confident that the enlarged Credit Union will strengthen our position as the local, trusted, respected and preferred financial institution for all our members.

Download Booklet: LKCU MPCC CU Transfer 2021

🖐 VOLUNTEER WITH US 🖐

Limerick & District Credit Union Ltd’s Nomination Committee are currently seeking expressions of interest from members aged 18+, interested in becoming a Board Director, Board Oversight Committee member or Committee member.

Closing Date is October 15th 2021.

Email Us: reception@lcu.ie 📧
Phone Us: 061 455831 📱

#LKCU #Volunteer #Limerick

Credit unions have been recognised as the most highly regarded financial services organisation in the Ireland RepTrak® 2021 study carried out by The Reputations Agency. Credit unions took second place in the overall study with an overall score of 84.9. Bord Bia took the top spot while An Post took third place in the overall study.

Credit Unions were placed first in Governance and in Citizenship – two important drivers of reputation. In the analysis of brand personality traits that most closely correlated with reputation, credit unions came first in Friendly and Genuine amongst the 100 organisations that were studied.

The Ireland RepTrak® 2021 study is based on a survey of over 6,500 members of the public which gathered data on the levels of trust, respect, admiration and esteem they have for organisations in Ireland.

Speaking about the achievement, ILCU President, Helene McManus said: “We are delighted to celebrate this good news and congratulate Irish credit unions for their consistently high performance in the RepTrak survey. It really is a fantastic achievement to consistently remain in the top two for the past three years. It has been an incredibly difficult year for all organisations and businesses. Credit unions all around the country have remained a cornerstone of their local communities and continue to go above and beyond for their members.”

Commenting on the significance of this year’s results, Niamh Boyle, Managing Director, The Reputations Agency said: “Pride in Irish indigenous organisations increased average Reputation Pulse score by close to four points, with a five-point increase in Innovation, but with increases in Citizenship, Governance and Workplace scores also driving this increase. For the first time in 12 years, the reputation of the 53 Irish indigenous organisations (average 71.6) overtook the 47 multinationals organisations (average 70.9) that were studied.”

The Special General Meeting of the members of Limerick & District Credit Union Limited will take place via Zoom Webinar on Thursday 22nd April 2021 at 6pm.

Members wishing to attend the Virtual SGM need to request an invitation to join and apply via email to: sgm@lcu.ie and include the following information in your email:

• Name
• Member Number
• Member address

The request for attendance must be received by 5pm on 20th April 2021.

The following information is pertinent to this notice.

• Limerick & District Credit Union will be using Zoom Webinar as the electronic platform for the meeting.
• To gain access to the meeting a member must request an invitation to the virtual meeting by emailing sgm@lcu.ie. This request must be received by 5pm on Tuesday 20th April 2021. Following the request for invitation the member will receive an invitation by email to join the meeting on 22 April 2021 at 6 p.m.
• The information required to request an invitation is your name, member number and address.
• The Credit Union will be verifying members details prior to issuing invitations.
• All non-presenting participants will be muted and have their cameras switched off to allow the smooth running of the meeting. However, you can type a question to the host by clicking on the “Q&A” button on the bottom of the screen alternatively email your question to sgm@lcu.ie by 5pm on 20th April 2021.
• Voting will be conducted by way of Online Poll and Members will be asked to vote Yes/No electronically for the rule changes when instructed by the Chairperson.
• Votes will be tallied electronically, verified by our Internal Auditor, and recorded by the meeting Secretary.
• This virtual SGM meeting will be recorded.

Order of Business

1. Acceptance of proxies by Board of Directors
2. Ascertainment that a quorum is present
3. Adoption of Standing Orders
4. Amendments to Standard Rules
5. Close of meeting

Notice of this Special General Meeting and full details of the Order of Business including the Standing Orders and the specific rule changes, relating to the holding of virtual general meetings of members into the future should circumstances dictate, are published on our website www.mylimerickcu.ie.

SGM DOWNLOADS

• L&DCU Notice SGM 2021
• L&DCU SGM Booklet

Banks, credit unions and post offices have been added to the list of workplaces where the wearing of face coverings is mandatory.

Up to now, the wearing of masks and face coverings in such premises was recommended but there was no legal requirement to so in contrast to retail outlets and public transport.

The new regulations, which have been signed by the Minister for Health, come into force with immediate effect following a campaign from the Financial Services Union (FSU) to require the wearing of face masks in their workplaces.

FSU general secretary John O’Connell said: “The FSU launched a campaign several weeks ago seeking this change so I very much welcome it.

“Our members were very concerned that they were being treated differently to any other retail staff. Concerns increased when the new variant of Covid-19 was identified and the virus became more transmissible.’

He added: “This is a sensible move which can help alleviate some of anxieties expressed by staff. We would urge all customers to abide by the new regulations and help keep themselves and workers safe.”

Mr O’Connell added that the rationale for not including banks, credit unions and post offices in the initial regulations was security-related.

Brian Hayes, CEO of the Banking and Payments Federation Ireland, which represents the banks, welcomed the decision

He said: “BPFI and its member banks very much welcome the decision by Government to amend the regulation to make mask wearing mandatory in banks.”

“The safety of customers and staff has been a top priority since March and today’s announcement is extremely helpful as we continue to provide essential services nationwide.”

Due to current COVID-19 restrictions, and to protect our members and staff, our AGM for 2020 will take place virtually.

Limerick & District Credit Union will hold our virtual AGM via ZOOM on Tuesday February 9th at 6pm.

Members wishing to attend the Virtual AGM need to apply via email to agm2020@lcu.ie and include the following information on your email:

• Name
• Member Number
• Member address

The request for attendance must be received by close of business on 5th February 2021.

A link to the AGM Zoom Webinar will be forwarded to your email address in time for the meeting.

The following information is pertinent to this notice.

• Limerick & District Credit Union will be using Zoom Webinar as the electronic platform for the meeting.
• To gain access to the meeting a member must request an invitation to the virtual meeting by emailing agm2020@lcu.ie. This request must be received by close of business on 5th February 2021. Following the request for invitation the member will receive an invitation by email to join the meeting on 9th February at 6 p.m
• The information required to request an invitation is your name, member number and address. The Credit Union will be verifying members details prior to issuing invitations.
• All non-presenting participants will be muted and have their cameras switched off to allow the smooth running of the meeting. However, you can type a question to the host by clicking on the “chat” button on the bottom of the screen.
• Elections for the position of Auditor, Board Oversight Committee and Board of Directors will take place. Voting will be conducted by way of online poll and each member will be asked to vote Yes/No electronically for each candidate when instructed by the Chairperson. The votes will be tallied electronically, verified by the Internal Auditor, and recorded by the meeting Secretary.
• The AGM meeting will be recorded for minute taking purposes.

Seven of the country’s largest credit unions, all members of Metamo, have become the first credit unions to offer loans to SMEs under the Government’s Covid-19 Credit Guarantee Scheme (CCGS).

Metamo is the joint venture between credit unions and Fexco and was set up in July 2019.

The seven credit unions joining the CCGS have a combined membership of about 250,000 members and include Cara Credit Union, Mallow Credit Union, First Choice Credit Union, People First Credit Union, St Canice’s Credit Union, Limerick & District Credit Union, and Synergy Credit Union.

SMEs and agri businesses, who are facing challenges due to the pandemic, will now benefit from greater access to funding under the scheme.

The seven Metamo credit unions have been approved to offer loans ranging between €10,000 and €1m, for terms of between three months and five and a half years.

Metamo has a combined lending base of €1 billion and this initiative is one of several that will enhance its ability to serve the needs of its members and the business community.

A total of 16 credit unions make up Metamo and it has over 480,000 members.

Joe O’Toole, Chair of the Metamo Credit Union Group, said the group had been approved as the first community lenders who can offer loans under the Covid-19 Credit Guarantee Scheme, a space previously reserved for the large pillar banks.

“The credit unions gaining approval have the track record and relationships to engage effectively with businesses needing support. Our Credit Unions are keen to support local businesses, knowing that their continued success is in the interests of our members and our communities,” Mr O’Toole said.

The Credit Guarantee Scheme is the biggest ever state-backed loan guarantee in Ireland.

It offers an 80% Government guarantee to participating lenders to provide Irish businesses, including those in the farming and fishing sectors, with access to low interest loans as they respond to the impacts of Covid-19.

Three non-bank lenders – Linked Finance, CapitalFlow and Finance Ireland – are now also included in the Covid-19 Credit Guarantee Scheme.

Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar said the inclusion of credit unions means more options for SMEs seeking to take out a loan.

“Credit unions are embedded in communities across the country and business owners will be able to seek advice from staff who they already have an existing relationship with,” Mr Varadkar said.

“The inclusion of three non-bank lenders too, means more choice for business customers. We will continue to diversify the lenders participating in this scheme,” he added.