PORTLAOISE, Ireland–People First Credit Union here and Laois-based Athy Credit Union have agreed to merge their operations following their respective annual general meetings.
The combination will create a CU with assets of nearly €117 million and with membership of more than 30,000.
People First Credit Union, which earlier absorbed Abbeyleix Credit Union in a merger, said it is open to other combinations.
According to the Leinster Express, when the process is complete, two directors will resign from the People First Board to make room for two representatives from Athy.
People First CU Manager Sean Dunne said certain work would be centralized in Portlaoise and some would also go to Athy.
The credit union said that the merger would facilitate the faster implementation of debit cards, which are currently not offered.
When completed, the combined institution will have a loan portfolio of €31.5 million, giving it a loan-to-share ratio of approximately 27%.