Member Notice1 December, 2020
Re: 2020 AGM Delay, Dividend and Loan Interest Rebate Due to the ongoing COVID-19 pandemic lockdown restrictions, New Ross Credit Union would like to take this opportunity to advise members that the 2020 AGM has been delayed.
The Board is monitoring the evolving Coronavirus (COVID-19) situation and once a decision has been made, we will contact all members advising them of the new date directly. At present current Credit Union legislation prohibits us hosting an AGM virtually, however, we are awaiting the necessary legislative changes required to be passed by the Government. Once these changes are made, we will inform you of a suitable date and how we intend to deliver the AGM, this is likely to be in early 2021.
New Ross Credit Union had a positive financial performance for the year ended 30th September 2020 and continued to be active for its members throughout the year, albeit in a very challenging environment due to COVID-19 and extremely low investment returns. It is important that the credit union continues to make responsible and prudent decisions to further strengthen the credit union. The Central Bank of Ireland, the Regulatory body for Credit Unions have advised that all Credit Unions are not to pay a Dividend or Loan Interest Rebate this year due to the uncertain nature of the economy due to Brexit and Covid 19.
As a result, New Ross Credit Union will not be paying a dividend or loan interest rebate to its members this year.
Board of Directors
New Ross Credit Union