Two credit unions in County Mayo are set to merge.
An application has been submitted to the Central Bank of Ireland to merge Kiltimagh District Credit Union with First Choice Credit Union.
This announcement came at Tuesday’s 57th annual general meeting of First Choice Credit Union.
Branches for First Choice Credit Union already in operation in Mayo are located in Castlebar, Ballyhaunis, Achill Island, Swinford and Balla.
A surplus of over €1.4 million was reported at the meeting, with a loan book of over €37 million.
When this new merger is complete, it is expected to create a credit union with more than €260 million in assets and over 40,000 members with six branches.
This will make it one of the largest credit unions in the West of Ireland.
