Better Together Why is this necessary?
The decision by the Board of Directors of Baltinglass Credit Union to pursue a Transfer of Engagement is a strategic one, designed to provide its members with access to an increased choice of products and services. These services can be difficult to offer without collaboration. What does a Transfer of Engagements mean? A Transfer of Engagement s means that Baltinglass Credit Union Limited will transfer their assets and liabilities to Altura Credit Union Limited. Members in Baltinglass an Altura can continue in the same way as before, with the added advantage of access to all the services that the combined Credit Union can offer through the expanded branch network and online .
What will happen next?
We envisage that if the Transfer of Engagements is approved by the Central Bank, the affairs of Baltinglass Credit Union Limited will be transferred to Altura Credit Union Ltd in March 2024. All Credit Union offices may need to close for between one and four business days to facilitate the transfer (with online services being interrupted for a shorter period). Members will be kept informed of developments closer to the time. Until then, it is business as usual at both Credit Unions. How will this change affect me? For existing Altura Credit Union members, there won’t be any noticeable change. You will still have access to the full office network at Gorey, Carnew, Ferrybank, Rathdrum and Roundwood but will now have access to additional offices at Baltinglass, Castledermot, Tinahely, Hacketstown and Dunlavin. Baltinglass Members will likewise gain access to all Altura Credit Union office locations in addition to existing Baltinglass Credit Union offices. For Baltinglass Credit Union members, you will receive a new membership number. All your account balances and information will remain the same. Members with current loans in Altura Credit Union and Baltinglass Credit Union will continue to repay loans under existing terms of their credit agreements. New loans or top ups after the Transfer of Engagements will be at the then prevailing rate in Altura Credit Union Limited. A summary of available loan products and rates is detailed on the following pages .
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