50 Years of the Irish League of Credit Unions - press release.
Celebrating 50 years of the Irish League of Credit Unions Credit Unions Still Growing – 50 Years On
A soft copy of the booklet will be available for download by clicking here shortly.
STATEMENT BY MARK BAILEY, PRESIDENT, IRISH LEAGUE OF CREDIT UNIONS Saturday 13th February 2010
The Irish League of Credit Unions (ILCU) today marked its 50th anniversary by presenting a commemorative booklet at a Special Board meeting in Clones, Co Monaghan, as this was also the venue where the first discussions on establishing a representative umbrella body for credit unions took place in February 1960. Later that month a meeting was convened in the old Jury’s Hotel in Dame Street, Dublin, to discuss the formation of the Credit Union League of Ireland. Following this meeting a motion was proposed that the ‘Credit Union League of Ireland’ be formed and this motion was carried unanimously. The organisation operates today as the Irish League of Credit Unions.
Speaking at the publication of the booklet to commemorate the anniversary, Mark Bailey, President ILCU said “It is a tremendous honour for us to be here in Clones today where the idea of establishing the Credit Union League of Ireland was first discussed 50 years ago. In particular I am delighted to present the specially commissioned publication ‘50 Years of the Irish League of Credit Unions’ to Gerry Curran (a founder member of Clones Credit Union) which charts the origins and development of the credit union movement in Ireland from its inception in 1960 to date”.
Mr Bailey went on to say:
“ It is a remarkable testament to our volunteers, staff and members over the last 50 years that the ILCU now represents over 500 credit unions on the island of Ireland with a membership of almost 3 million people. I am sure that today’s membership figures would have astounded those involved in the initial foundation. Unlike other financial institutions credit unions continue to grow through our services and our contribution to the community. Credit unions are still providing loans and are welcoming new members to the movement every day. In 2009 alone, the movement’s membership increased by 1.4%.”
Gerry Curran, a founder member of Clones Credit Union said ‘I am delighted to welcome the Board of the Irish League of Credit Unions to Clones today for the publication of this commemorative book. I was present at the initial meeting in February 1960 and I remember the events as if they were yesterday. The enthusiasm and appetite to form an umbrella group was very strong and it is very rewarding to be here today to mark this special occasion and to see the aspirations of those founder members achieved. In addition the ethos of credit unions remains as significant to communities today as it did fifty years ago”.
