independent

Monday 18 February 2019

Credit Union loaned over €18m in 2018

Cynthia Scallan, Ita Whelan-Power and Bernie Morrissey at the recent Enniscorthy Credit Union AGM at the Riverside Park Hotel
Cynthia Scallan, Ita Whelan-Power and Bernie Morrissey at the recent Enniscorthy Credit Union AGM at the Riverside Park Hotel
The top table looks on as Nicky Cosgrave addresses the Enniscorthy Credit Union AGM at the Riverside Park Hotel

Pádraig Byrne

Enniscorthy Credit Union reported a strong year as it held its annual AGM in The Riverside Park Hotel. Throughout the course of 2018, the credit union advanced 4,197 loans amounting to a total of €18.4million to its members. This was an increase of nearly €500,000 on last year with the average sized loan being €4,388.

The highest percentage of loans given out in 2018 were for car purchases at 40% or €7.4m, followed by home improvements at 38% or €7m.

The total membership of Enniscorthy Credit Union has grown by 963 this year, to 31,000, with sub offices in Ballymurn, Murrintown and Taghmon and stretching out over half of county Wexford.

Among the other announcements made at the AGM were that members will receive a dividend of 0.25% this year and that plans are in place for the development of new products and services to meet growing demand form members - particularly enabling the whole loan process to be completed electronically.

'Having enjoyed a strong year in 2018, Enniscorthy Credit Union is now very much looking to the future and we are working hard to ensure that we will further enhance services for our members and meet the demand for different services and products,' said Acting Manager Liam Waters. 'We see great opportunities for the credit union to grow and strengthen for our members in the coming years and this will be our priority.'

Mr Waters also confirmed, that despite looking towards improving their electronic offering, Enniscorthy Credit Union will retain its focus on the face-to-face personal service it provides too.

Enniscorthy Guardian

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