2020 has been a difficult year for all of us both from an economic and health point of view. Many businesses were closed for a significant amount of time and indeed some have not yet opened. The future seems uncertain.
Thankfully we in Rathkeale & District Credit Union have been able to stay open for our members during the pandemic operating within Government and Health Services Guidelines while doing so.
At this time of the year Rathkeale & District Credit Union would be planning for its AGM, two obstacles prevent us from fulfilling this annual ritual.
- Under current restrictions inside gatherings above a certain number are prohibited. However, we are awaiting current legislation to be signed off by the President to allow us to hold virtual AGM’s if necessary, into the future.
- More importantly, the impact of the economic damage is not fully known particularly with no deal Brexit on the horizon and the continuation of COVID 19. With this in mind and on strong advice from our Auditors and the expectation of the Central Bank the Board and management have decided that there should be no dividend/interest rebate recommended for 2020. This is a regrettable decision, but one we feel must be taken based on the advice received to protect the longer-term interest of Rathkeale & District Credit Union.
Rathkeale & District Credit Union remains in a strong financial position and we are grateful for the ongoing support of our Members. We continue to remain open for lending and serving our Members financial needs.