Credit Union in Skerries closing on 1 July

cbreeze

Saddened to learn that this branch will close in July, following a review of the branch network in the group. Members may avail of Rush and Balbriggan.

Also they are introducing charges for withdrawal by cheque: €3.50 per item.

The Hill Billy

Very disappointing. The Credit Union has lost the thing that made it great - its intrinsic connection to the communities it served.

Now it is just a mini bank run by mini-bankers with little care for their individual shareholders & their communities. Moving services online, reducing counter services to all customers - especially elderly & vulnerable.

I wonder if the proceeds of the sale of the Skerries office be put back in the accounts of the Skerries members who paid for it (a dividend would be nice - remember them?) or will the proceeds go to the directors of Progressive CU by way of a bonus for meeting cost reduction targets or suchlike?

the_amazing_raisin

Unfortunately I think this is the way all the credit unions and many bank branches are going in the day of digital banks like Revolut

One niche they can still do is providing cash services and the like as a sort of front end for the digital banks

Tbh though, just about any shop or post office could do this, you don't really need a dedicated business

tvjunki

https://www.boards.ie/discussion/comment/118901745#Comment_118901745

No longer a service for those who are on low income as it was many years ago.

Seemly there Irish League of credit unions have said there is a large deficit in the staff pension fund and I would say Progessive would be affected by this.

The staff costs and staff numbers are very high for Progressive Credit Union. They have taken on staff with high wages when they took on loss making credit unions.

The regulator have made them take on badly managed credit unions and sell it to the members that is it good for them the merge.

tvjunki

https://www.boards.ie/discussion/2058239548/credit-union-in-skerries-closing-on-1-july

They are also charging a ‘€1’ membership fee and the members will now have to pay for affiliation fees of €1.10. The affiliation fees where paid by central funds not individuals funds. They have not said if this is a yearly or monthly fee. No dividend issued either.