No, both credit unions are financially sound but challenges exist in and for the sector in terms of increased bank and non-bank competition, rising costs etc. As such, with our surpluses combined, year on year into the future, we feel we can survive and thrive in providing greater services to our shared communities long term.

Both credit unions came together in 2024 to explore this possibility. A lot of preparatory work has gone into getting the merger to a stage where we can communicate to our members, confident we are doing the right thing for both credit unions, our communities and have the support of the Central Bank in doing so.

No, all your data, accounts, monies and balances will automatically switch to the merged entity and you will be able to transact as normal on the day of the merger. BDCU members will have to re-register for online banking in the new combined entity. We will have our team focused on supporting BDCU members in completing this on merger, and a video will be accessible on our website that will walk you through the process, in a step by step manner.

Absolutely, collectively we are a very strongly capitalised credit union which should give a lot of confidence to our members that we are in a strong position to mind your funds and expand services to you over time. Member savings up to €100,000 will continue to be protected under the Government Deposit guarantee Scheme (DGS).

Yes, all offices will remain open and opening hours will remain the same in all offices.

Yes, the merger brings some key benefits including some cost savings as a collective entity, a stronger balance sheet and scale brings benefits in enabling us bring improved and more services to a wider membership base.

No, all offices will be available for you to transact in and services will expand overtime which will be accessible across all our branches and online.

Yes, staff in your local office will still be there to look after your financial needs post-merger.

Yes. No employee will lose their job from the merger and under TUPE legislation, employees can transfer into the new entity with the same terms & conditions as their current position, with any contractual changes only through employee agreement.

A Voluntary Exit scheme for employees was undertaken pre-merger. It was available to all permanent employees who wished to consider it in both credit unions. Circa 10% of employees choose to apply for this scheme, which is in the normal range for such schemes in SME businesses.

The cost of your existing loans will stay the same and we would hope to offer a greater variety of services and rates to suit your needs post-merger.

Dividend payments are typically a function of credit union surpluses annually, and deposit interest rates being offered in the marketplace. The merger will be of benefit in improving surpluses over time but will not change external factors  such as the interest rate environment. While we expect to increase surpluses and ultimately dividends in the medium to long term, it will be decided upon annually by the board and take cognisance of a myriad of credit union and external factors ongoing.

As pointed to earlier, one benefit of the merger is cost synergies as a result of the requirement for two suppliers converging to one for some services. Therefore while the majority will continue to service the merged credit union, some service providers will likely lose out. We will communicate the service providers but we would urge you to contact the credit unions for further details around this should you have concerns and we can discuss on a ‘case by case’ basis.

Absolutely not, we differentiate ourselves by knowing our members, operating at the heart of the communities we serve and while we do need to offer our services through digital and online offerings, we can never lose that personal and local touch. We commit to delivering for all our members in whatever way they wish to do business, be that in branch, over the phone or online etc.

Yes, that will not and cannot change.

While the legal name on merger will be Community Credit Union, both credit unions as part of the merger process had previously agreed to use the name of Blanchardstown & Community Credit Union. At present, with the trend of credit union names changing with mergers across the country, and with Rowlagh CU and its members joining in April, we have now committed to a review of the name and branding of the new combined entity in the coming months. This will ensure any new name reflects our ethos, collective community spirit, geography and strategic ambition for the business at the heart of our West Dublin community. Following this review, our name will be proposed to all our members at next year’s AGM for approval, and submitted to the regulator for final sanction

Stronger financial position, scope to develop better services for our members into the future and a greater ability to tackle and overcome the core challenges facing the sector together, such as falling personal loan demand and income, volatile investment income, rising costs and regulatory oversight, greater traditional and non-traditional competition etc., investment to grow our business relevance and digital platform etc.

Absolutely, it is a core pillar of both credit unions that the collective entity will have at its heart the servicing and support of both communities as one, into the future and indeed, sustaining this service long term is the core rationale for this merger.

We are hoping it will be completed in July 2025.

There is no negative effect and you will see more and better offerings and services over time as we use our collective strength to expand services, access and ease of doing business with us.

1) CEO Blanchardstown & District CU – Stewart Agnew
2) Interim CEO Community CU – Claire Lawton
3) Project Manager - Cormac Heffernan

We acknowledge that our members, while valuing and invested in what the credit union does and can do for them and their communities, have busy and demanding lives. The trend in the sector now is to hold virtual SGM’s to enable more members to attend the SGM at their ease and we plan, in the majority to run virtual SGM’s into the future.

This will be addressed and put to members at respective SGM’s for both credit union members in early June. The SGM’s will be held virtually as follows;

• Blanchardstown & District Credit Union: 7pm on Thursday on June 5^th
• Community Credit Union: 7pm on Friday, June 6^th

Register to attend the Community Credit Union SGM here.