The Mission of the Credit Union is to promote the financial well being of its members. To achieve this purpose the Credit Union is committed to providing a broad range of innovative financial products supported by the excellent service of a dedicated, well-trained staff. These programs will be administered in accordance with sound management practices to maintain the financial strength of the Credit union. The Board of Directors, Management and Staff of the Credit Union hereby affirm that the efforts of the Credit Union will be consistently and professionally dedicated to the accomplishment of this mission.
The Credit Union Story in Kells
Kells Is located approximately 75km north west of Dublin in the historic Boyne Valley. Kells has been officially designated as an Irish Heritage Town.
The Credit Union Story in Kells all started way back in May 1961. The Late Patrick Flanagan RIP was on a business trip to Clones and while there met with the Late Fr Gallagher, who was a curate in Clones at the time. Fr Gallagher was also the President of the Credit Union in Clones and during their meeting they discussed the possibility of a credit union in Kells.
On his return from Clones the Late Paddy Flanagan RIP met up with some of his friends and discussed the idea of setting up a credit union in Kells. You must remember in 1961 conditions were ripe in Kells for a credit union to operate successfully. There were many organizations in the town which used the co-operative principles ie Kells ICA, The Legion of Mary, Kells Silver Band and Kells Operatic Society to name but a few. The men and women in these organizations had experience of working on committees and knew how they operated. There was also a good standard of education in the town at that time with two secondary schools and a vocational school. In May 1961 the credit union was launched at a public meeting in the town.
The credit union operated initially in a small room in Kenlis place. In 1972 it moved to a premises it purchased in Newmarket Street and in March 1995 the credit union moved to it’s current premises the former Masonic Hall – a move which brought St Colmcille’s Credit Union into the very heart of the town’s financial services centre.
The success of St Colmcilles Credit Union like many other credit unions around the country is due primarily to the voluntary input. The heart and soul of the credit union is today and has been down through the years the voluntary leadership. These men and women give the gift of time and wisdom freely, with only the inspiration of helping others as their reward.
Today’s generation of men and women are living on a higher national material plan than any generation before.
The directors of St Colmcilles Kells Credit Union today are like all those directors gone before them constantly searching for ways to improve the credit unions products and services to it’s members. The directors have always taken their duties seriously and acted in the knowledge that they are servants of the members. Boards of Directors over the years have always endeavoured to deal with members’ problems sympathetically and with great sensitivity.
The Credit Union Movement Story
The modern Credit Union movement traces its origins to Germany and to Friedrich Willhelm Raiffeisen, the Mayor of a small town in southern Germany, who in 1849 formed societies, which later evolved in to Credit Unions. The purposes of these Credit Unions was to enable people to help themselves in relieving debt and poverty.
A Credit Union is a democratic, financial co-operative owned and controlled by its own members. Each Credit Union is run only to benefit its members, all of whom have something in common – the common bond.
The Credit Union movement was introduced into Ireland in 1958 by Nora Herilhy with the support of a number of other dedicated pioneers.
Since then, the Credit Union philosophy of mutual self-help has proved very popular, and there are now over 530 Credit Unions affiliated to the Irish league of Credit Unions throughout the country.
In Ireland over two million members have recognized the value of credit unions, and have savings approaching several billion euro with their credit unions. There are thousands employed in the sector and many more thousands are volunteers involved in the movement.