The role played by one of Galway’s leading Credit Unions in its own locality was quantified by the Minister responsible for the financial services sector last week.

Last year alone, St St Jarlath’s Credit Union in Tuam supported over 150 community initiatives, clubs, and organisations, contributing €81,800 to local causes – and they have also part-funded a fantastic new development of social homes in the town.

That’s why Minister of State with responsibility for Financial Services, Credit Unions, and Insurance, Neale Richmond, said that St Jarlath’s CU was ‘a testament to the positive impact credit unions have on their local communities’.

“It is therefore no surprise to see the continued growth in membership which underscores the trust and confidence that the community places in St Jarlath’s Credit Union,” he said.

The Minister visited St Jarlath’s Credit Union in Tuam last Friday, meeting with staff and members at the branch and holding discussions with some of the board of directors about the key challenges and opportunities facing credit unions in Ireland.

He also paid tribute to the CU’s role in the financing of Plás an Chruicéid, a new development of eight social rented homes in Tuam.

“It is fantastic to see Credit Unions providing affordable houses across the country. We want to see more of this work happening across the country and I will work with Credit Unions to achieve this,” he said.

Michael Ryan, Vice Chair of the board of St Jarlath’s Credit Union, revealed that St Jarlath’s had part-funded this initiative,

“That is local members’ money going to benefit people right here in our community,” he said.

St Jarlath’s Credit Union has been serving the communities of Tuam, Headford, Mountbellew, Glenamaddy, Dunmore, Williamstown, Glinsk, Abbeyknockmoy, Turloughmore, Corrandulla, and Moylough for over 50 years.

On the broader picture, Minister Richmond said that people trust their credit unions.

“We know that there’s a huge cohort in society, in good times and bad, who need to speak to someone who understands them, who is from the common bond, who can respond to them,” he said.

“We’re really ambitious for the sector, there’s a reason we have a Minister for Credit Unions. We want Credit Unions to do more, we know Credit Unions want to do more, and we will help them do so,” he added.

Pictured: Pearse O’Shiel, Chairperson Co-Operative Housing Ireland, Minister Neale Richmond, Cathaoirleach of County Galway Albert Dolan, Minister Anne Rabbitte, Chairperson of the Credit Union and Approved Housing Bodies Brian Murphy, Michael Ryan, Vice Chair of the board of St Jarlath’s Credit Union, resident Bridget Walsh and Credit Union Specialist Donal Coghlan.