A WIDELY respected West Belfast credit union has revealed plans to merge with a larger one – bringing to an end 60 years of its independent service to the community.
Divisview Antigonish Credit Union in Arizona Street has asked its 1,200 members to back its proposal to merge with SAG Credit Union, which is headquartered on the Andersonstown Road – and the Andersonstown News can reveal that the overwhelming majority have backed it.
It’s understood that if the merger goes ahead, the Arizona Street credit union will remain open for at least a year – and potentially more – and act as a satellite branch of SAG. It will mean members can still visit the credit union there to make payments.
Divisview Loans Officer Kevin Courtney said the workload on the team of volunteers had been getting bigger and that it was increasingly difficult for smaller credit unions to survive.
“Over recent years the directors of Divisview Credit Union have struggled with ever increasing legislative and regulatory pressures which all credit unions now face. We have also struggled to recruit new directors to strengthen the current board,” he said.
“The board reached the decision that the best way forward is to amalgamate with SAG Credit Union. This transfer would ensure that credit union services would be secured for our members.
“There’s also the issue of the increasing demand for digital platforms that small credit unions like us struggle to meet.
“With SAG Credit Union, members get greatly enhanced services.”
SAG Credit Union was formed in St Agnes’ parish in 1964 and today boasts almost 20,000 members. Its members can use online banking as well as a tailored app.
Divisview Antigonish Credit Union has a proud history, having been based at first at St Teresa’s Primary School before its present building in Arizona Street was built in the early 1970s.
The first board of Divisview Credit Union
One Divisview member said: “The good work that this credit union did in West Belfast over the past 60 years is almost too much to estimate.
“So many volunteer workers gave up their free time to ensure families could save regularly and access money when banks would close their doors on them.
“These volunteers were selfless and many families wouldn’t have had a Christmas without them.
“Of course it’s sad it’s closing, but Divisview Credit Union played a vital role when it was most needed – especially during the Troubles – in helping people get some sort of financial independence.
“Thousands of families benefited from that. Rather than be sad that Divisview is ending, it’s a cause for celebration that such a small credit union in a quiet street off a main road did so much for so many people for so long, thanks to the work of volunteers who gave up their free time night after night, year after year.”
