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Nenagh Credit Union Remains Strong, Safe and Secure

January 201413th

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Nenagh Credit Union Remains Strong, Safe and Secure

Nenagh Credit Union has been servicing the local community for the past 44 years.

Financially our Credit Union has performed very well during the year despite the recessionary environment. We have continued to build on our reserves which we consider as being prudent especially with the implementation of the Personal Insolvency Bill. It is important to convey that we are still actively lending to our members at very competitive rates and without restriction from the Central Bank.

Our Strategic Plan looks at developing new services, including the consideration of opportunities to build strategic mergers/alliances with other credit unions, whilst continuing to be the preferred provider of financial services to our members.

Nenagh Credit Union remains strong, safe and secure and has always acted in a prudent manner, it is also a comfort to members that all deposits to the value of €100,000 remains covered by the Government Guarantee Scheme.

The current membership is now at 14,806.  This figure includes 155 clubs and 951 juveniles.  Currently savings are at €40.9m with loans totalling €8.5m.  Loans are now available to members at very competitive rates.  There are 11 people serving on our Board of Directors while we employ 10 office staff on our premises.

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