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