Croí Laighean Credit Union reports strong year of growth

Credit Union Annual General Meeting

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Croí Laighean Credit Union reports strong year of growth

rman Brian Manning, speaking at the 2017 AGM

The AGM of Croí Laighean Credit Union was held on Monday, December 18, in The Westgrove Hotel, Clane.
Brian Manning, Chairman of the Board of Directors, welcomed everyone to the AGM and thanked members again for supporting the decision to merge the communities of Coill Dubh & District Credit Union and Edenderry Credit Union in December 2016.

In 2017, Croí Laighean Credit Union continued to grow its business, with a surplus of €1 million and a 27% growth in lending with over €24.7 million in loans issued to 5,889 members.

According to the Credit Union, the results of growth in lending are particularly important as at present, it is the main driver of the Credit Union income.

Croí Laighean Credit Union also welcomed 1,647 new members and extended the range of products and services offered to Member both in-branch and online.

The opening hours in the Clane branch were extended to five days per week from 9am to 4pm and additional staff were also recruited to support the branch network.

In the community, Croí Laighean continued to support local groups with sponsorship and community funding of over €65,000 allocated to a large range of community based organisation in all parts of the common bond.

Members were asked to approve a dividend of 0.4% coupled with 10% Loan Interest Rebate. Members were also updated on the merger proposal with Lexilip & District Credit Union.

Discussions with Leixlip have been going on since early 2016 and the AGM was told that the merger would consolidate and build on the great work done to date and strengthen the Croí Laighean presence in the community while extending the branch network for more members.

Brian Manning thanked all those who had contributed to the development of the Credit Union since 1967 and added “this annual report is a strong reflection of the great work and dedication of the team during the year and we have had very positive reviews by external consultants.

“I would like to thank our Board, Board Oversight Committee and our staff for making Croí Laighean Credit Union one of the strongest Credit Unions in the country and certainly at the Heart of Leinster”.