'Sorry for this Covid-19 mess,' say Clonmel Credit Union as dividend payments postponed

LATEST

Reporter

Reporter:

Reporter

Email:

news@nationalist.ie

Tipperary Tipperary Tipperary

File photo

Clonmel Credit Union says it is “disappointed” that is has had to postpone payment of the annual loan interest rebate and dividend due to Covid-19.

"Despite the difficulties caused by the pandemic, we had another strong performance this year, turning out a surplus of €3.6 million. As with every other year, we were looking forward to holding our AGM in December and having the membership approve a healthy loan interest rebate and dividend to our members.

"This can’t happen at the moment because we can’t hold an AGM due to Covid restrictions and there is currently no legal provision to hold an online AGM.

"In these circumstances we are unable to provide any certainty that payment of a rebate as we have done annually for the past 26 years, will happen in the current year,"  Clonmel Credit Union said in a statement.

They added: "It’s expected that the AGM will be held early in 2021. After that, if we get a positive response from the Central Bank and the interest rebate is passed, (as it always has been to date), it’ll be paid out as normal.

"We’re sorry for this Covid-19 mess, it is not of our making but we won’t let you down: that’s a promise."