Dear Member,
We are delighted to advise you that the Boards of Directors of Drogheda Credit Union Limited and East Meath Credit Union Limited passed resolutions on the 26th March 2015 to progress the transfer of engagements of East Meath Credit Union Limited to Drogheda Credit Union Limited. Upon the completion of the transfer of engagements, the new common bond will be the combined common bonds of Drogheda and East Meath and will incorporate all current, former and future members of the Credit Union.
We believe this Transfer of Engagements will strengthen our position to be the most trusted, respected, and preferred financial institution for our members, providing good value, modern accessible and tailored services to our community.
Drogheda and East Meath Credit Unions were established to provide the ordinary people of our communities with a source of inexpensive credit to purchase the things they needed to get on with their lives. Since our foundation, both credit unions have embraced a proactive role in local economic and social development.
We envisage that the affairs of East Meath Credit Union will be transferred to Drogheda Credit Union before the end of April 2015.
We would like to take this opportunity to thank you the members for your continued loyalty to Drogheda and East Meath Credit Union.
Drogheda Credit Union & East Meath Credit Union.
How will this change affect me?
For existing members there will be no noticeable change. The two branch offices at Laurence Street, Drogheda and Bettystown Town Centre will remain open. The branch opening hours are outlined below.
Opening Hours
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Members will be able to use both offices when the Transfer of Engagement is complete.
Members of Drogheda Credit Union will have the added advantage of being able to transact their business, if it is convenient for them to do so, in the office in Bettystown during the opening hours of that office, when the transfer takes operational effect.
If you are a member of East Meath Credit Union, you can still continue to be able to conduct your business in Bettystown during the opening hours of that office. In addition, once the transfer takes effect, you will be able to transact your business in Drogheda.
The members of East Meath Credit Union are informed that, while they have no legal or contractual entitlement to Death Benefit insurance, heretofore, such cover has been provided as an ex-gratia basis by the credit union. This cover will not be continued after the transfer of engagement is complete.
The members of East Meath Credit Union are specifically put on notice that the Life Savings Insurance cover provided by East Meath Credit Union will continue up to the 1st July 2015. Thereafter, it will be replaced by the Life Savings Insurance cover currently provided by Drogheda Credit Union. The ceiling of €12,700 provided by East Meath Credit Union will no longer apply and will be replaced by a ceiling of €10,200.
Do I have to do anything?
No. We do welcome any views that any member may have on the proposed Transfer of Engagement. Members may write to the secretary of either credit union or email to info@droghedacu.ie of info@emcu.ie with any views, comments or queries they may have.
Members will be able to use both offices when the Transfer of Engagement is complete.
