Kanturk CU members to share €790k
UNION IN 'VERY HEALTHY STATE'
KANTURK Credit Union is in a very healthy financial state an was in a position to pay a two per cent dividend to members in 2012, the Annual General Meeting of the union heard.
The meeting was held in the Edel Quinn Hall Kanturk before Christmas where the members heard all the reports on the state of Kanturk Credit Union.
In the economic times we are experiencing it was very heartening to hear Kanturk Credit Union is in a very healthy state, which stands in contrast to some of the reports in the press about some of the other Credit Unions throughout Ireland.
The Board of Directors of Kanturk Credit Union reported an excellent year and a dividend of two per cent was proposed and accepted by the members at the meeting. This represents an amount of approximately €790,000 returned to members and is a very welcome boost to the local economy. Desmond Daly, Chairman, stated that Kanturk Credit Union was "in a very strong financial position with total reserves of almost €9 million".
He also stated that the board felt that the Credit Union could "best serve members by remaining independent". However, he noted that it also made sense to co-operate with neighbouring credit unions in providing shared services.
He also said Kanturk Credit Union would be celebrating its 50 anniversary this year and that this would be marked with different events throughout the year.