A helping hand at Cavan Credit Union
Not For Profit
Cavan Credit Union was founded in 1968 when a number of like-minded people came together, as happened all over Ireland at that time, to provide people, particularly those grappling with poverty, with a system to give them access to credit and allow them to gain control over their finances.
By 1975 Cavan Credit Union had 1,000 members and was lending over €100,000 per annum - a lot of money at the time. Membership grew steadily over the years and now it has around 21,000 members and has loaned €18 million to members in 2023.
Cavan Credit Union is a co-operative, operating not for profit, but on the principle of people helping people. The members who save with the credit union, in turn, allow others to borrow by accessing these savings as loans to members.
In recent years services have expanded to include new loan products, current accounts, debit cards, online banking and the development of a mobile app.
The support for, and loyalty to, Cavan Credit Union has grown steadily over the years as services developed in line with demand from members, Julie Galligan, marketing manager revealed at the business awards Pitch Night last month.
“We have lent over €18m to members in 2023 and we see our role in the community as one of people helping people.
“The credit union actively supports the locality and other organisations within the community and recently sent up a social and cultural fund to support this,” she outlined.
Student scholarships and art competitions are just a flavour of some of the initiatives run by the local branch.
Meanwhile, the financial institution believes that the future is positive.
“Cavan Credit Union has had a number of successful years and the board and staff are looking forward to continuing to grow this success, deepen its involvement in the community, and become even more central to the provision of financial services in modern day Ireland."
CONTACT US
Cavan Credit Union is based at 83 Main Street, Cavan Town.You can call a member of the team on 0494331715.Email: info@cavancu.ie or log on to www.cavancu.ie