Financial institutions are constantly trying to maximise their customer base. If you don’t grow your customer base, you cannot grow your lending and a static loan book can leave an institution mired in the doldrums.

Comhar Linn INTO Credit Union currently may accept membership only from Primary School Teachers. That is a finite customer base. The obvious solution is to combine with like-minded credit unions and thereby increase the membership and ultimately the loan book. The following paragraphs explain the current plan for a merger between Comhar Linn INTO Credit Union and other educational credit unions, to create a single credit union for the entire education sector, embracing primary, second level and third level under one umbrella. Each credit union in the merger will maintain current staffing and continue to serve their current members; but the overall membership will be significantly increased and the new body will have significantly more “clout” and be better able to serve all its members better.

Important Update: Comhar Linn INTO Credit Union Strategic Merger

Where Comhar Linn is Today

Comhar Linn INTO Credit Union is built on a clear focus: supporting members working across the education community through a personal, trusted, member-first service that has developed over many years. That focus remains central to everything we do and it will not change.

What is being Proposed:

The Boards of Comhar Linn INTO Credit Union, TUI Credit Union and Education Credit Union propose to come together in a transfer of engagements to bring the three credit unions together as one.

If approved, this would create a single financial cooperative serving Ireland’s education community – Primary, Post Primary, Third-level educators and education support staff.

This proposal is about strengthening what already exists, ensuring the credit union continues to meet members’ needs into the future.

Continuity for Members

A key priority throughout this proposal is ensuring continuity for members.

• The personal, member-focused service that members value will continue
• Staff will remain in place, continuing to support members as they do today
• Services will continue to be delivered from existing offices and locations
• The credit union will continue to operate with the same strong focus on the needs of educators

The strategic merger is not about changing the core experience for members, it is about supporting and sustaining it. All three credit unions are financially strong and share:

• A common membership base within the education sector
• A similar approach to member service
• A shared commitment to the credit union model

The financial services environment continues to evolve, with increasing member and regulatory expectations requiring greater scale to deliver for tomorrow.

By coming together, the combined organisation will deliver several practical benefits for members:

• Stronger member support

Building on the combined respected experience and resources of all three credit unions

• Stronger financial resilience

Supporting a sustainable service model for generations of educators to come

• Improved Digital services

Increased investment in online and mobile services to meet member expectations

• Broader range of products and services

including expanded and  enhanced offerings tailored to educators, including mortgages

• Better value for Members

Greater scale supports improved competitiveness across products

Member Decision Process

The proposal will be put to members for approval at a Special General Meeting.

• Members will be able to join and vote online
• Full details will be communicated directly to members

Member participation in this process is important, as the decision ultimately rests with the membership.

The Board of Directors is fully committed to this strategic merger, an important step in strengthening and protecting the future of Comhar Linn INTO Credit Union. We will stay true to our roots, proud of what we’ve achieved, confident in what we are building, and committed to shaping what comes next together with you, our members, at the very heart of it all.

Ultimately, the decision to agree this merger rests with you, the members. Your vote should be an informed one. I hope that this mailing is a step on the road to keeping you informed on this important and essential step to ensuring that our credit union remains an essential and vital part of the financial infrastructure of primary education and primary teachers into the future.

https://comharlinnintocu.ie/about-us/transfer-of-engagements