Fears grow over Mayo credit union staff cuts

CONCERNS are growing over feared staff reductions at First Choice Credit Union, based at Market Square in Castlebar.

Questions were raised by shareholders at last month's annual general meeting of the organisation, which reported healthy profits in excess of €2 million for 2016.

Since then, up to 35 staff members have received an emailed memo outlining proposed HR changes, new roles and a voluntary severance scheme.

It is understood some employees are considering the severence scheme while moves are underway to have only full-time staff going forward, talks having opened with SIPTU, which represents the workers.

The closing day for the scheme is imminent and negotiations with staff are ongoing.

The memo followed the launching of a recruitment process before Christmas to fill a number of new roles at management and organisational level.

The HR changes were put forward in an external review of the organisation which had been recommended by the Central Bank.

First Choice Credit Union, which has assets of €185 million and total reserves of €33 million, last year took over the running of Ballyhaunis and Achill credit unions.

In his annual report, John Burke, chairperson, said First Choice Credit Union's strategic journey is not one with a defined end point but rather one 'which will see us constantly adapting to the rapidly changing external environment dominated by innovative technology, competitive pressure and altering needs of our members'.

When contacted, he declined to comment on the feared job losses.