To date the Credit Union Restructuring Board (ReBo) has provided assistance in 40 completed mergers involving 82 different credit unions. ReBo has recently approved a further 6 mergers involving 12 credit unions. ReBo meets on a monthly basis to review finalised merger proposals. There are currently no proposals in front of the board for its upcoming monthly meeting on 17 December.
ReBo is engaging with a further 114 credit unions and mergers involving a number of these credit unions may come before the board for approval during the course of 2016.
As stated previously, I am pleased that credit unions are engaging with ReBo as a business strategy to achieve the scale necessary to move to a more efficient and effective business model and as a means of strengthening the sector.