CREDIT UNION AGREES PROGRAMME OF ACTION WITH FINANCIAL REGULATOR
A meeting took place this week between the board of Mitchelstown Credit Union and the Financial Regulator as the appointment of a manager at the branch has still to be finalised.
A spokesperson for the Financial Regulator confirmed to The Avondhu that the meeting with the board of the credit union was scheduled and that the agenda included certain matters of governance and the appointment of a manager at the branch.
A statement issued by the Financial Regulator to The Avondhu following that meeting said, “The Financial Regulator has met with the new board and agreed a programme of action with them. We expect that a new manager will be appointed shortly to run the affairs of the credit union.”
The business of appointing a manager has been ongoing for quite some time and shareholders are both anxious and hopeful that an appointment would be made as soon as possible.
Stressing that Mitchelstown Credit Union is very much at the heart of the community, the president, Kevin O’Flynn said the new board is working ‘extremely hard’ on the members’ behalf.
“One of the priority items currently been worked on by the new board is the appointment of a new manager. The responsibility of the new board is to ensure that the person appointed as manager is the right person for the job and that he or she is capable of tackling the challenges that lie ahead,” he told The Avondhu on Wednesday and confirmed that a scheduled meeting had taken place with the Financial Regulator
"This was the first time the Financial Regulator had met with the new board and prior to the opening of the meeting; the president took the opportunity to introduce the members and supervisors.
“The board and our fantastic staff are committed 100% to the credit union and are confident that they will work well with the Regulator,” the president said and urged the people of the area to avail of the vast range of services on offer.
“Mitchelstown Credit Union offers a fantastic service and value for money in its personal loans. We offer a huge range of services - ATM cards, foreign exchange, travel insurance, Western Union, budget accounts, Sammy Stamp for younger savers and much, much more. A person commented lately that it is evident that there has been a sea change with the new board.”
Mr O’Flynn concluded by saying: “The board and staff urge the readers of The Avondhu to support Mitchelstown Credit Union and avail of its services. Mitchelstown Credit Union is a community co-operative, there to serve you. As we find ourselves in the midst of a recession, there is no better time than now to call in and discuss our very competitive loan rates.”
Thursday 19th February 5:19pm