Kilcormac Credit Union
 
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About the Credit Union
Kilcormac Credit Union, founded in 1968, provides a valuable service for the people of Kilcormac and the surrounding areas. Following the ethos of the credit union movement worldwide it enables people in the community to save locally and ensures that funds are available when people need to borrow so that members can obtain loans at a reasonable rate of interest. The credit union has been very successful in Kilcormac and membership has grown from 68 in 1968 to over 1700 in 2003 and assets now stand at over €7 million. The opening hours are:
10.00am to 1.00pm and 2.00 to 5.30pm on Thursday, Friday(6 p.m. closing) and Saturday . The office is on Main Street and the phone/fax number is 057 9135194. Email: kcunion@eircom.net

Annual General Meeting 2007

The 39th Annual General Meeting of Kilcormac Credit Union Ltd. was held in the Community Centre, on Wednesday night 28th Nov. Michael Casey, Auditor of Byrne Casey and Partners attended the meeting along with 75 members of the Credit Union.
The meeting opened with the Credit Union Invocation and then the Chairman Jim Gorman welcomed all those present. He then praised the hard work of all of the Directors, Supervisors, Staff and committees for all their hard work during the year, on behalf of the members.
The Treasurer Sean Craven gave a detailed report including Income and Expenditure for the year ended 30th Sept. 2007. Some of the highlights were that shares increased by 19% during the year to the total exceeding 9 million Euro. This could be attributed to members transferring their matured SSIA’s into their Share Accounts.
Income for the year exceeded 500,000Euro for the first time in the history of Kilcormac Credit Union. The main reason for the improvement was the excellent returns received from our investments. Sean was also pleased to note that a dividend of 2 ¼ % on shares would be proposed at the meeting as well as a 15% Interest rebate on loans.
Michael Casey, Auditor, highly commended the directors, the supervisors and the staff on the efficient manner in which they Credit union was run and that he was in no doubt but that Kilcormac Credit Union would go from strength to strength.
The following also gave their reports to the meeting – Tom Daly of the Supervisory Committee, Kevin Mooney of the Credit Control Committee, John Hynes of the Credit Committee and Caroline Guinan of the Educational Committee.
In conclusion the Chairman thanked Sean Craven for the Powerpoint presentation on the night and he also reminded members that in 2008 Kilcormac Credit union would be celebrating 40 years in existence.
After the meeting the following officers were elected – Chairman Jim Gorman, Secretary Patrick Byrne, and Treasurer Sean Craven.All committees to be elected at the next Board of Directors Meeting.
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