St Canice's Credit Union, Kilkenny has €50 million to lend in 2017

St Canice's Credit Union, Kilkenny has €50 million to lend in 2017
Sean Keane

Membership in St Canice's Credit Union grew to almost 60,000 in 2016 and it provided loans totaling €33.8 million to the local community last year.

The good news is that in 2017, it will have €50 million available to loan out to the community and local businesses.

St. Canice’s is the country's most successful credit union and will hold its AGM on Tuesday, January 31 at 7.30pm in Hotel Kilkenny where it is proposed to pay a dividend on shares and interest rebates on loans to the value of €2.7 million.

St. Canice’s Credit Union has been serving the people of Kilkenny and now Laois for over 53 years, providing accessible, affordable and friendly financial services to all of its members.

It continues to be there for those in the local community who need a helping hand, by offering small as well as large loans to members and a secure environment for our members’ savings.

St. Canice’s Credit Union has grown its membership in the past 12 months by way of new accounts as well as mergers with Ballyragget, Graignamanagh, Durrow, Mountrath and Rathdowney credit unions.

Savings increased by €47 million in 2016 (up 23%) and all government protected.

The credit union provided €33.8 million in loans to the local community in 2016 and continues to provide credit while other financial service providers are not.

The Board of the Credit Union is working hard, putting in place plans for the development of new products and services to meet growing demand from members, services like mortgages, electronic payments, direct debits, debit cards.

It continues to sponsor the Kilkenny Senior Hurling League and Championship as well as supporting many other charitable works and sports sponsorships.

Even though the initial signs of economic recovery are clear, it is only right that every credit union continues to make responsible and prudent decisions going forward. The priority at St. Canice’s Credit Union is to protect our members and to serve their needs, whilst ensuring the safety of their savings.