• Sep : 9 : 2017 - Our Lady Crowned Credit Union 50th Anniversary Open Day
  • Jun : 30 : 2017 - Student Loan Rate Promotion
  • Mar : 11 : 2017 - Monthly Loan Promotion
  • Feb : 18 : 2017 - Our Lady Crowned Credit Union – 50 Years Serving the Community
  • Oct : 22 : 2016 - THE “I’M GETTING MY ACT TOGETHER EARLY THIS YEAR” LOAN

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IRISH CREDIT UNIONS JOIN 57,000 OTHER CREDIT UNIONS AROUND THE WORLD TO CELEBRATE INTERNATIONAL CREDIT UNION DAY ON THURSDAY OCT 16th

 

COMMITTED TO THE LOCAL COMMUNITIES THEY HAVE SUPPORTED OVER THE LAST 50 YEARS

 

Today, Irish Credit Unions join 57,000 credit unions from around the world, with 208 million members to celebrate International Credit Union Day®; an annual event which celebrates the role that financial cooperatives play in improving the communities they serve and the lives of their members the world over.

Despite the economic difficulties of the past number of years, the Irish credit union movement is still one of the most popular in the world with over 3.3 million members across the 32 counties – the highest member penetration rate per capita. Membership of the country’s credit unions has increased by 70,000 in the past 12 months, a reflection of continued loyalty to the not for profit, community lenders.

Total assets in ILCU affiliated credit unions in the Republic of Ireland amounted to €12.7 billion.  Furthermore, savings in ILCU credit unions are €10.7 billion. Perhaps most encouraging of all is that gross loan arrears have reduced substantially in recent years with total gross arrears falling for 10 quarters in a row since arrears peaked in December 2011,

Since 1948, International Credit Union Day has been celebrated annually in October. Each year, the international event affords the opportunity to remember credit unions’ proud history and promote awareness of and support for the credit union difference. This year’s theme, “Local Service, Global Good” encapsulates what have long been the philosophical principles of credit unions – service to members and social responsibility.

The Irish credit union movement has also developed and nurtured thousands of credit unions and their respective credit union members in developing countries, through the charitable arm of the movement, the ILCU Foundation. The ILCU Foundation (Foundation) provides financial and technical assistance to help strengthen credit union movements overseas in particular, Africa. This year the ILCU Foundation celebrates 25 years of working to alleviate poverty by providing access to financial services in some of the most rural parts of the world.

 

Speaking about International Credit Union Day, Martin Sisk, President of the Irish League of Credit Unions said:

“The credit union movement only came to Ireland in 1958 but it tapped into the co-operative spirit in communities all over the country, took root and has been growing ever since. It’s a worldwide phenomenon – a unique people-centred service meeting the needs of ordinary people.

While personal service is maintained throughout the country, credit unions are also investing in electronic payment services, online access to accounts, new travel and car insurances through coveru.ie and a range of other services. So whether you are a student at college, a business person travelling abroad or a working mum, your credit union can be at your fingertips anywhere in the globe”.

He concluded: “In the midst of many banks closing their local branches, the continued presence of the credit union in the community is of vital importance. While providing much needed local access to financial services, the credit union also has an ethos of supporting local initiatives and investing in the communities in which they operate. Because of their members, credit unions are able to play a vital role in the development and financial stability of the communities they serve, by providing affordable loans and high quality services to their members.”

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