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19 Jan 2022

Tullamore Credit Union's loan portfolio grows significantly despite 'challenging year'

Tullamore Credit Union's loan portfolio grows significantly despite 'challenging year'

Tullamore Credit Union's loan portfolio grows significantly despite 'challenging year'

TULLAMORE Credit Union's loan portfolio grew significantly in 2021, the highest level of growth for many years.

The loan book now stands at a total of €77.6 million, up €10.1 million, the credit union's finance officer, Declan McDonnell has revealed.

Members savings grew by over €40million in the 12 months to September 30 last and total savings now stand at €277.8 million.

But acting on advice from the Central Bank the credit union's board does not consider it prudent to recommend the payment of a dividend.

Details of the credit union's finances in the year ended September 30 are contained in the annual report which has been distributed to members this week.

The annual general meeting takes place on Monday, December 13 in the Tullamore Court Hotel at 8pm.

Members can attend in person or join in online.

If you wish to join online you will need to the request the meeting link by visiting www.tullamorecu.ie or emailing agm@tullamorecu.ie. You will need to include your name, membership number and date of birth and your requested must be received by December 8 next.

In a letter to members credit union chairperson, Ray Spain said results had exceeded expectations in a challenging year.

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