Knockninny Credit Union issues £1m in loans in year

A SMALL local credit union has enjoyed a record year, issuing almost £1 million in loans while boosting members’ shares to over £4.5 million.
Addressing the 53rd AGM of Knockninny Credit Union, chairperson Donal McPhillips said the organisation “continues to deliver vital financial services to all members in our common bond.”
He revealed that over the past year, new loans approved totalled £997,624. “This is quite a figure, to realise that a small Credit Union such as ours has issued almost £1 million in loans to our membership in the local community in this 12-month period,” he said.
McPhillips added: “We are delighted that so many of our members chose us for their lending needs, and with our new rates the Credit Union is now a much more competitive option for loans.”
He also highlighted the retention of the 25% interest rebate on standard loans, saying it “will significantly reward the members who have borrowed and continue to borrow, and should encourage others to consider a Credit Union loan. After all, we need members to borrow to keep a strong community Credit Union successful and open.”
The chairperson praised two particular achievements from the year. “I would especially like to congratulate Joe Brown on his Fermanagh Trust Civic Award for over 50 years of dedicated service to our Credit Union—a very deserved reward for Joe’s unwavering commitment.”
He also noted that the Credit Union was recently shortlisted for a Northern Ireland Social Enterprise Award, describing it as “a testament to the work, vision, and passion for community of all involved with our Credit Union.”
“We need to be very proud, and thank you all,” McPhillips concluded.