History

History

History of Kingscourt Credit Union

Kingscourt Credit Union was set up on the 15th February 1971 following a study group set-up in November 1970. Kingscourt Credit Union was first opened on the 15th of February 1971. This opening coincided with the launching of the new decimal money. The “office” was a room in St. Mary’s Hall and was operated by volunteers open Saturday nights and Sunday mornings only. Later a new premises was built near the Market Square and a computer system was introduced. Due to an increase in membership Kingscourt Credit Union acquired and refurbished the former Paddy Willy O’Briens newsagents on the Main Street; which was opened in July of 1992. The Common Bond of Kingscourt was also extended to serve the community of Nobber at this time as these surrounding areas were not already being served by any other Credit Union.

From humble beginnings it has grown to over 7,540 members and has given over 40 years of service to the local community. There is over €33 million held in shares and over the years, millions of euro have been borrowed and paid back by members who have benefited immensely by the existence of Kingscourt Credit Union.

Kingscourt Credit Union operates a School Saver Club every Thursday morning in the local primary schools which has proved to be a very successful way of encouraging children to save. It also sponsors the annual Art Competition; Third Level Education Scholarship Scheme; school quiz and has sponsored many community and sporting organisations over the years. Kingscourt Credit Union has also given away over 70 cars in our Members Car Draw since it started in October 2011.

History of Bailieborough Credit Union

One person who must be acknowledged as a pillar of the Credit Union movement in Bailieborough is William McElwaine. He was one of a number of people who held meetings in 1965 with a view to setting up a Credit Union in the town. On the 23rd May 1966 this goal was realised when ailieborough Credit Union was formally founded by Ms Nora Herlihy, Founder and Managing
Director of the Irish League of Credit Unions.

The first office was located in the courthouse, opening on Fridays from 7.30 to 9.00 pm. In November 1966 the office moved to Swift Travel Agency on Main Street and remained there until a premises on Lower Main Street was rented from the late Tommie Martin. The Credit Union saw significant growth over those years, so much so the Directors decided to purchase a dwelling house in Anne Street in 1976. This building was used until 1997 when the Credit Union moved to its current location on Main Street. Today, Bailieborough Credit Union has over 5,000 members and assets in excess of €25,000,000. From humble beginnings, Bailieborough Credit Union can now offer members a vast array of financial services products, from loans & savings, to insurance and online services.

History of St. Mary’s Moynalty Credit Union

A study group was formed in September 1982, under the direction of the Late Fr P.A. Reilly PP and Moynalty Community Council. In January 1984, St. Mary’s Moynalty Credit Union opened for business in Muintir Na Tire Hall and Newcastle Hall. At this time, the operations and management of the credit union were carried out by volunteers from the Board of Directors, to whom we owe a huge debt of gratitude.

In April 1988, our Common Bond was extended to serve the communities of Mullagh & Kilbeg, which were not already being served by any other credit union and a sub office was opened in Mullagh in April 1989. By November 1993 we had 1000 members and our first computer was installed.

Our current premises in Moynalty, which was purchased from Church of Ireland, was opened for business in July 1997 and our newly built premises in Mullagh was opened for business in December 2005. From here we continue to provide the “core” services of Savings and Loans to our members.Our membership continues to grow and we currently have over 3400 active members. The credit union is very active in the 6 National Schools within our Common Bond, who participate in many Credit Union events, including the annual Art Competition and CU Schools quiz. We have also established school savings schemes in some of these schools, getting our younger members into the habit of saving small amounts regularly, which we hope will continue into the future and that they will remain active members of their credit union.