Special General Meeting 9th September 2024 - Further Information

At an information evening on Tuesday the 27th of August, to which all Members were invited, we presented details of the proposal and rationale around our intention to rebrand our Credit Union. On Monday the 9th of September you will be asked to vote on a name change. For those unable to attend the information evening we present the following;

Background

Kilcloon Credit Union was founded and physically located in Kilcloon in February 1972 and celebrated its 50th Anniversary in 2022. The Credit Union moved to Kilcock in 1998 and has occupied premises in Kilcock since that time. The Credit Union has gone from strength to strength, with Membership of over 12,000 and assets of over €44mn. However, in order to strengthen viability and be in a position to provide Members with enhanced services, we need to continue this growth. To this end the Board of Directors considers it necessary to refresh the brand.

Over the past number of years, it has been very evident that the growth in Membership, savings and loans has been driven largely by our Members located in and around Kilcock and its environs. As at the end of July 2024 almost 62% of our Membership, 43% of our savings value and almost 57% of our loan value are concentrated in and around Kilcock. This growth has been driven in large part by the urban development of Kilcock, its expansion as a commuter town and the influx of new homeowners.

Why Rebrand?

Rebranding presents an opportunity to refresh our image, better communicate our values and mission, and ensure we continue to attract and retain Members. It’s about positioning ourselves strongly against competitors, demonstrating our commitment to innovation and excellence, better reflecting the demographics of our Membership and the opportunities that that presents. As part of our strategic plan, it is essential we stay relevant in a constantly evolving financial marketplace.

A New Name and Logo Refresh

Choosing a new name is a critical step. The Board of Directors felt that any new name should be simple, easy to pronounce, recall and to spell. It should be relevant to the service we offer our Members, while also being reflective of our identity and values, as well as being memorable and distinctive. This name will become a core part of our brand identity. That proposed new name and logo is:

Rationale

The name Kilcock Credit Union more accurately reflects the location we occupy, the larger segment of the community we serve, and enhances local recognition and relevance. Aligning the Credit Union’s name with the town of Kilcock clearly identifies our location, strengthens the bond with the new emerging and diverse community and fosters a sense of belonging. We consider this rebrand to be evolutionary, building on the history and success of Kilcloon Credit Union. Our logo re-design retains existing colours and design elements for continuity, while modernising it to reflect societal changes.

Our marketing messages, in particular those delivered online, will benefit from the new name and become more marketing ‘efficient’ as they will clarify the location for potential new members and clearly demonstrate the Credit Union’s desire to:

• Re-enforce it’s geographic relevance and community identity;
• Modernise and remain relevant; and
• Enhance its online presence, while retaining its current domain name - kilcu.ie