GREYSTONES, Ireland–It turns out members can’t be counted on to automatically approve every merger.
Members of Greystones & District Credit Union here have voted against a combination with Bray Credit Union. In December, 2016, the credit unions had announced plans to combine their operations. But during their respective annual general meetings, which were held simultaneously at the recommendation of the regulator, members of the two CUs had drastically different views.
According to The Independent, members of Bray CU voted 283-19 in favor of the merger, but members of Greystones & Distrcit voted 195-20 against the deal.
“(Greystone) members were told that improvements would include mortgage loans, debit cards, and online banking, however they were not interested,” the Independent reported. “…In general they felt that there was nothing to be gained by them in joining Bray.”
Had the two CUs merged, plans also called for a name change.