A merger of Cara and Clanmaurice Credit Unions is in the final stages.
Clanmaurice Credit Union, which serves communities in North Kerry including Ballyduff and Causeway, is proposing to merge with Cara Credit Union, which has members in Tralee, Castleisland and Killorglin.
CEO of Clanmaurice Credit Union, Donal Scannell, says increased regulation in recent years means there are more challenges to be faced by credit unions, including requirements to have specialised staff in anti-money laundering and risk and compliance.
Advertisement
Mr Scannell says it’s expected members of Clanmaurice Credit Union will get to vote on the proposed merger in late February.
He adds there are benefits for both credit unions.
