Thurles Credit Union 60th Year End Review

As Thurles Credit Union comes to the end of its 60th year, the community financial
organisation is pleased to announce that its year-end results remain steady, despite the
continued economic challenges posed in the main by the COVID-19 pandemic. The credit
union has provided over €11 million in loans to the local community over the past year.
Membership has grown to over 21,000 and savings have increased by €2.3m with total assets
for the credit union now at €127.6m.

Brian King, CEO, noted this week that, despite the unprecedented challenges faced, Thurles
Credit Union has continued to serve its members throughout the pandemic while abiding by
national restrictions and public health guidelines. The CEO went on to say that the credit
union has introduced a range of new products and services in recent months and hopes to
introduce additional products and services in 2022 that will be of benefit to the membership.
Some of the products and services under review include the provision of current accounts,
debit cards, and mortgages. In addition, the Credit Union has partnered with Irish life and
sixteen of the most progressive credit unions in the country to commence offering a whole
suite of exciting new protection, pension, and investment products for members.
Lending remains core to what Thurles Credit Union does daily to serve the communities of
Thurles, Killenaule, Urlingford, and their environs. A range of new loan products at very
attractive rates including share-secured loans, green loans, agri loans, etc are all available in
addition to a range of existing loan products. Check out for more.
The 2021 AGM of Thurles Credit Union will be held virtually. The meeting will take place on
January 24th, 2022 and members will receive notification early in the new year on how to
register for the AGM. Given the current and projected future financial climate against a
backdrop of negative interest rates, the Board of TCU continues its policy of strengthening its
reserves in line with the recommendations of the Central Bank and many of the credit union’s
key stakeholders. Arising from this, the Board believes it is prudent not to pay a dividend or
loan interest rebate to members but to strengthen reserves. A similar approach is being
adopted by many other credit unions around the country.

An encouraging addition to the services offered this year has been the launch of the Member
Services Centre. This is aimed at enhancing the member’s experience of using all the different
services in the credit union more easily. These include new services such as online loan and
membership applications and dedicated staff responses to individual member requirements.
On a final note, Brian King thanked the staff for their great commitment to the credit union.
He acknowledged the contribution of the Board and Board Oversight Committee and all the
voluntary hours that are required to help govern a credit union. Most of all, the CEO was
keen to thank the loyal and dedicated members of Thurles Credit Union for all their support
over the years. He extended a happy Christmas and best wishes to all for 2022 from everyone
associated with Thurles Credit Union.

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