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Public Meeting Held After Blessington Credit Union Ends Lease Agreements

Blessington and District Credit Union has issued a statement outlining its position...

Locals who attended a public meeting in Blessington aimed at securing the future for two businesses, given notice to vacate the premises they are renting off the local Credit Union, say they are disappointed that there were no representatives from the Credit Union at the meeting.

The Credit Union says it was forced to issue the notices after it was discovered that they were in breach of the Credit Union Act of 1997, which states that they can own property for the purpose of conducting its own business, but cannot use that property for any other reason.

The Credit Union says during a recent routine review, it discovered that they were in breach of the Credit Union Act of 1997, which states that  they can own property for the purpose of conducting its business, but cannot use that property for any other reason.

They say in order to comply with the Act, the credit union reluctantly had to take the decision to terminate the present license arrangements.

The credit union says along with its legal advisors, they had explored every alternative solution to this issue. However, unfortunately there was no other viable option.

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