Over two hundred people attended a meeting in O’Connell’s Clubs, where a motion of no confidence in the board of directors of Connect Credit Union was passed. The meeting was called by members who were unhappy with the decision to close branches in Kilsaran and Clogherhead. The motion was passed by an overwhelming majority. The meeting was organized by a group of members who say they did so according to the Credit Union Act 1997. The group says they are now waiting to hear back from the Central Bank.

The decision to close the branches was made by the board of directors, who said that it was necessary to ensure the long-term sustainability of the credit union. The board also said that the decision was made after months of deliberation and was guided by a commitment to balancing fiscal responsibility with excellent member service.

However, members who attended the meeting said that they were not consulted about the decision to close the branches. They also said that they were not given enough notice about the decision. They also said that the board's decision to hold a Zoom meeting instead of an in-person meeting made it difficult for members to voice their concerns.

Connect Credit Union Responds to Member Concerns

In a statement following a virtual meeting, which they said had the highest attendance to date for a remote meeting, chairperson Stephen Johnson said that a detailed rationale was provided in relation to the closure of the Kilsaran and Clogherhead offices. The board said that the decision to close the branches was made “after months of thoughtful deliberation, guided by our commitment to balancing fiscal responsibility with excellent member service.”

The board also said that they were aware of a public gathering, which they claimed was organized by a small group of members opposing the branch closures. The board said that the gathering was not called by the Board of Directors of Connect Credit Union and does not represent the collective interests or voices of the entire membership. They also said that all decisions regarding the closures have been made following proper procedures, and the board remains committed to acting in the best interests of the credit union as a whole.

The Impact of Branch Closures

The closure of the branches has had a significant impact on the communities of Kilsaran and Clogherhead. Many members say they were not consulted about the decision to close the branches, that the decision was made without any prior consultation. They also say the closure of the branches has made it more difficult for them to access their money and conduct their banking. They said the branches were essential resources for the communities they served.

Changing Banking Habits and Costs

Stephen Johnson, chairperson of Connect Credit Union, said that one of the most compelling factors in the decision to close the branches was the changing way members are conducting their banking. He said that 87% of all transactions are now completed online or through digital platforms, which means a substantial portion of the membership has shifted away from in-person services. He said foot traffic at the branches in question has declined significantly while the number of transactions conducted there has seen a reduction. Johnson said that the reality is that the costs associated with maintaining underused facilities are no longer sustainable. He added that closing these locations allows them to reallocate resources more efficiently and invest in services that better serve the entire membership.

A Community Voice Heard

Local resident Riona Meehan, one of the ten people who signed a notice on behalf of members calling for the SGM, says they did so according to the Credit Union Act 1997. Meehan, who has experience of virtual meetings during the pandemic, said not everyone is comfortable with remote meetings where it can be difficult for people to ask questions. Meehan said that they had called for the meeting to be held in person so that members would be able to make their voices heard. However, this request had been ignored by the Board of Directors, who opted to hold a Zoom meeting instead. Meehan said that they tried to notify people about the meeting as best they could by putting up posters, getting in touch with the local media, and publishing it in the parish bulletins.

Ms Comyn, a Fianna Fail general election candidate, attended the meeting and said that there was clear anger and frustration amongst the capacity crowd following the sudden closure of the two local branches, which members say has seriously impacted the two communities. She said that there were well over 200 people in the room, and the general feeling was that the Board of Management of Connect had treated them with a lack of respect when they closed the Clogherhead and Kilsaran branches without any prior consultation.

The Future of Connect Credit Union

It remains to be seen what the outcome of this vote of no confidence will be. The board of directors will now have to decide whether to resign or to call a new election. It is important to note that the credit union is a democratically run organization, and the members have the ultimate say in how it is run. This vote of no confidence is a clear indication that the members are not happy with the way the credit union is being run, and the board of directors will need to address their concerns if they want to maintain the support of the membership.

A Community Speaks Out

The vote of no confidence is a sign that the members of Connect Credit Union are not happy with the direction that the credit union is taking. The members have spoken out and the board of directors will need to listen to their concerns if they want to maintain the support of the membership. It is a clear sign that members are not satisfied with the way the credit union is being run. The board of directors will need to respond to these concerns in order to regain the trust of the membership.