Minister hears of increasing role of Donegal’s credit unions within community

Minister of State at the Department Of Finance with special responsibility for Financial Services, Credit Unions and Insurance, Neale Richmond, visited Letterkenny Credit Union today.

The Minister took time to engage with staff and held a very productive round table discussion with directors and volunteers of all Donegal Credit Unions and our neighbours in Derry Credit Union.

Captain CU welcomed the Minister to Letterkenny Credit Union and Chairperson Paul Hume presented him with a Donegal Jersey in anticipation of his support for the games ahead!

The Minister praised Credit Unions for their level of service to members and acknowledged the never-ending support they provide for their communities.

The Minister listened to the queries and concerns which representatives expressed.

Topics and discussions were had in relation to Capital Reserve requirements, increasing costs of regulation, liquidity, lending limits and volunteer terms of office.

Neale Richmond, TD, Minister of State for Financial Services, Credit Unions and Insurance (seated, centre) with members of the Management of Letterkenny Credit Union, visiting credit unions and members of the Irish League of Credit Unions during the Minister’s first visit to Letterkenny Credit Union on Monday. PIcture: Declan Doherty

Paul Hume (right) chairman of Letterkenny Credit Union presents a Donegal football jersey to Neale Richmond, TD, Minister of State for Financial Services, Credit Unions and Insurance during his visit to letterkenny Credit Union on Monday. Also include is Gordon Randles, CEO, Letterkenny Credit Union. Picture: Declan Doherty.

Overall the Credit Union representatives gave positive feedback on the visit. Derry Credit expressed thanks for the invite and asked for continued government support for the development of the A5 road infrastructure.

During the engagement with staff, Minister Richmond heard how Letterkenny Credit Union’s loan book is growing and how the new mortgage lending product is helping with lending growth.

In addition the Minister was impressed with the communication Letterkenny Credit Union deliver when members have a problem with repayments and work with the member to avoid negative impact on their borrowing history.

The Minister also witnessed the front line team working face to face with members acknowledging the Credit Union motto of “Digital when you want it, Human when you need it”

Credit Unions represented on the day incuded Letterkenny, B+S, Donegal Town, Swilly Mulroy, Sheephaven, The Rossess, Gweedore, Inishowen, Lifford, Derry as well as representatives of The Irish League of Credit Unions.

All pictures by Declan Doherty.

Neale Richmond, TD, Minister of State for Financial Services, Credit Unions and Insurance (on right) is welcomed to Letterkenny Credit Union on Monday by members of the management including chairman Paul Hume, Gordon Randles, Greg Magee, Gail Griffin. Picture: Declan Doherty.

Neale Richmond, TD, Minister of State for Financial Services, Credit Unions and Insurance (seated, second from left) with members of the management and staff of Letterkenny Credit Union during his first visit to the credit union today (Monday). He also met with members of the Credit Union League Board and representatives from many other Donegal Credit Unions. Picture: Declan Doherty

Minister hears of increasing role of Donegal’s credit unions within community was last modified: May 20th, 2024 by Staff Writer

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