Credit Union in Tipperary celebrates a year of milestones
Clonmel Credit Union hosted its Annual General Meeting (AGM) on Wednesday, December 11th, at Hotel Minella, celebrating a year of outstanding success
At the well-attended AGM, the CCU team presented on a year of remarkable milestones, from approving €35.9 million in loans, including €5.8 million in mortgages that saw 46 local families find their forever home, to the launch of new Agri and SME loans in May and a €14,000 bursary scheme for third-level students.
The members unanimously passed the proposal to issue a 20% interest rebate and a dividend of 05%, a total of €2.3 million, a welcome boost to the local economy. The Credit Union also celebrated the 25th anniversary of its Members' Draw, which has now given away over €6.75 million in prizes.
Attendees learned about the unparalleled support offered to local communities and clubs through sponsorships and events, including Applefest, Clonmel Town Centre FC, Clonmel Rugby Club, St Mary's Choral Society, Banna Chluain Meala and financial well-being programmes for primary schools.
Reflecting on 2024, the Chairman of the Board, Eamonn O Mara, commented, "We are proud of the new services we have introduced this year, all driven by valuable feedback from our members. Our financial performance has been outstanding, particularly for a small rural organisation. Most importantly, we are proud of our positive impact on individuals and families across South Tipperary."
Green Energy Focus of 2025
CEO Pádraig Enright outlined the focus for 2025, firmly set on sustainability and supporting the circular economy locally. He introduced a suite of new green and eco-focused financial products, including the new home energy upgrade loan offered at a highly competitive rate. He noted that the Credit Union’s own investment in solar panels has delivered a 30% energy savings for the organisation.
Thanking the voluntary Board of Directors, Mr. Enright said, "We wish to extend our gratitude to the Directors and the Board Oversight Committee for their dedication and support throughout the year. A €2.3 million rebate to our members will land in accounts this week, just in time for the peak Christmas shopping season! We want to thank the members. We are proud to support your financial futures, and we wish you a joyful Christmas."