Lending restrictions in Cahersiveen Credit Union will be lifted following a merger with the Killarney service.
The Central Bank had imposed the restrictions in Cahersiveen but manager of Cahersiveen Credit Union Elma Shine says they will be lifted following thr merger with Killarney Credit Union.
It’s expected to be completed at the end of September, subject to final approval from the Central Bank of Ireland.
By combining resources, the merged credit unions will have assets of over €140 million, savings of €123 million and combined reserves of under €17 million.
It will also result in more services for members who will be unaffected by the process.
Ms Shine says this move will secure the service in south west Kerry.