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Cork Independent


Mallow to take over Charleville Credit Union

Thursday, 9th November, 2017 9:29am

Mallow Credit Union is set to extend its common bond to Charleville after the former went into liquidation in October.

Last month, Mallow Credit Union had announced that it was in a position to extend its common bond to Charleville and that it has held initial discussions with the provisional liquidators on the matter.

On Monday, Mallow Credit Union confirmed that it had made a preliminary application to the Central Bank of Ireland (CBOI) for permission to extend its common bond to cover this area and that this had been approved.

The next step in this process was to seek approval from the membership at the Annual General Meeting on 3 November.

After what Mallow Credit Union described as a “lengthy and engaging discussion”, the motion to extend the common bond was approved by an overwhelming majority of members present.

The chairman of Mallow Credit Union David Browne confirmed that as soon as formal CBOI approval of the common bond extension is received, Mallow will proceed to open up its newest branch in Charleville without delay.

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