Tullow Credit Union and St. Canices Credit Union Announce Merger to Strengthen Regional Community Banking

Member Update: Strengthening Your Credit Union

Wednesday 28 October 2026

From: Tullow Credit Union

Dear Member,

The Boards of Directors of Tullow Credit Union and St. Canice’s Credit Union have agreed a merger (Transfer of Engagements) of the two credit unions. This agreement secures a stronger future for Tullow Credit Union—protecting the Tullow office, local services and every staff position; expanding the range of services available to members; and increasing our capacity to invest in the Tullow community, while preserving the member-owned ethos and personal service at the heart of both credit unions. The proposed Transfer of Engagements will be subject to the approval of the Central Bank.

Benefits for staff of Tullow Credit Union

The Board recognises the support that members have shown for our staff. Protecting our people was therefore a central requirement when choosing a merger partner. We specifically sought a credit union that would secure the employment of our staff, preserve existing terms and conditions, and provide stronger opportunities for career development and progression.

We also sought a partner with an established collective agreement with a trade union, which staff may join, so that they can have the support and representation they have asked for. St. Canice’s Credit Union can meet all of these requirements.

The Board is confident that this merger will preserve terms and conditions, create greater opportunities for staff and management to develop and grow, and provide a clear pathway to trade-union support under an existing collective agreement.

Benefits for members and the Tullow community

For members, the merger combines the personal, local service they value in Tullow with the strength and wider capabilities of one of Ireland’s largest community-based credit unions.

Day-to-day services will continue as normal, and members’ savings and loans will be unaffected. Members will gain access to a broader range of established services, including current accounts, mortgages, personal and farming loans, insurance options, digital and mobile banking, and support through a dedicated Member Service Centre. These are services that members need, services that Tullow Credit Union cannot provide as a smaller credit union.

The long-term future of the Tullow office

Keeping the Tullow office open for the long term, serving members and the wider Tullow community, is a central and core commitment in our agreement with St. Canice’s Credit Union. Members can be reassured that local, face-to-face services will continue in Tullow. There is a strong precedent for this approach: Bagenalstown Credit Union merged with St. Canice’s Credit Union in 2019 with a commitment to continue local services, and the Bagenalstown office remains part of its branch network today. Our ambition is for Tullow to follow that successful model—retaining a strong local presence while benefiting from better services and greater capacity to support members and the community.

Benefits for Local Groups Serving the Tullow Community

Tullow Credit Union already has a proud record of supporting local clubs, voluntary organisations and community groups through its sponsorship fund. The merger will protect that local commitment and provide an opportunity to enhance it through the greater financial strength and established Community Connect programme of St. Canice’s Credit Union, which uses credit-union surplus to support sustainable local projects.

The Board of Directors of St. Canice's Credit Union have approved a Community Connect Fund for 2026 for all areas of its common bond and creating the potential for increased funding, wider support and greater long-term impact for groups serving our Tullow community. This means the merger is not only about stronger financial services and improving opportunity for our employees: it is also about investing more in the organisations, volunteers and projects that make Tullow a great place to live and work.

Next steps

Tullow Credit Union is now working closely with St. Canice’s Credit Union to complete each of the required regulatory and legal steps. The proposed Transfer of Engagements will require the approval of the Central Bank.  

Throughout this process, it will remain business as usual: the Tullow office will stay open, local services will continue, and members’ savings and loans will be unaffected.

We are committed to handling the process carefully and in the best interests of our members, staff and community. As it evolves, we will provide staff and members with the relevant information.

Tullow Credit Union