Slane Credit Union has loaned millions to generations of families within the common bond for the past 50 years

FOR the past 50 years, Slane Credit Union has been serving its members, lending millions of euros to generations of families and providing secure savings for local families over five decades.

Slane Credit Union Ltd celebrates 50 years’ service to the local community, to mark the anniversary, a members’ appreciation day was hosted on Sunday 23rd September, with entertainment for all the family.

Slane Credit Union has grown beyond recognition from the small group which operated from the old technical school with 200 or so members in 1968 to the 6,500-current membership.

Slane Credit Union was born out of a study group formed in November 1967 to investigate the possibility of starting up a credit union in the area. The group was chaired by the late Michael O’Doherty of the Irish League of Credit Unions and was advised by Michael Woods, the former manager of Navan Credit Union. Slane Credit Union was affiliated to the Irish League of Credit Unions on 1st February 1968 and opened for public business on 16th February. It started with a tin box in the technical school, where it remained until the old courthouse at Chapel Street was purchased in 1971 for the pricely sum of €3,900. There were around 200 members in the first year, the credit committee approved 10 loans amounting to €335 at their first meeting.

One of the reasons the Credit Union succeeded in the early days was the fact that that the Greenhills Bed Linen, which employed 500 people, started a payroll deduction scheme.

By 1971, the credit union moved to its new premises at Chapel Street but as the years went by, it became more obvious that an even bigger premised was needed. The Board of Directors of 1995 started to discuss the possibility of a new building and eventually acquired a site at Main Street. The purpose-built office was officially opened on 2nd July 2000 by the then president of the Irish League of Credit Unions, Jim McMahon.

The 1,500 square foot building, which was designed by architect Joseph Beggy, is cut stone with red brick window surrounds in keeping with many of the older buildings in the village. The front door is aligned with one of the four Dower Houses at the Square and the attractive traditional clock above the front door is at the opposite end of the village from a similar clock on St. Patrick’s Church of Ireland.

The challenges that Slane Credit Union face today are very different than 50 years ago due the changes in our regulatory environment and recent changes in the local and national economy. During 2013 the Board of Directors compiled a strategic plan which included offering members new services with priority given to on-line services. A new framework was introduced that enhanced the offerings to members, this included a new website and portal, with which members could access their accounts online, do electronic fund transfers, have their wages or social welfare paid directly to their account. When CUSOP (the online payment services for credit unions) was granted the licence from the Central Bank of Ireland to operate, the board at Slane made the decision to sign up immediately. Slane Credit Union was the 15th to go live on the system in the country.

In recent times Fern Software (the software company which the credit union deals with) launched Abucus One World Hub. This will herald a new era of sustainability of Efficiency, Outreach and Growth without increasing overheads. The board of directors have now invested in the new software as it is paramount that we stay relevant and competitive in a rapidly-changing market place. This added functionality will be available to members during the coming months.

Slane Credit Union caters for an area which includes the village itself, Kenstown, Beauparc, Rathkenny, Castletown, Stackallen, Grangegeeth, Rossin and Rosnaree. The office is open 5 days a week. Apart from the core business of Shares and Loans the credit union offers a lot of services which include Death Benefit Insurance, Drafts, Foreign Currency, Pay Point, RPI.

The Loan Book at Slane Credit Union is open, our rates are very competitive, all loans are covered with insurance (at no direct cost to the member).

The present Board of Directors is made up as follows; Eileen Hogan (Chairperson), Finn Cullen ( Vice- Chairperson), Paul Mongey (Secretary) Willie Lynch, Charles Murphy, Glennon Geraghty, Paddy Macken, Colette McDonnell, Dawn Martin, Edel Carroll and Beatrice Chege-Mbogo.

The Board at Slane are very proud of the fact that Charles Murphy is currently the President of the Irish League of Credit Unions.

The Board Oversight Committee which is independent to the Board of Directors is made up as

Follows; Ann Griffin (Chairperson), Helen O’Connell (Secretary) and Frank O’Brien.

The management and staff are made up as follows; Barbara Markey (CEO), Kay Bruton, Rachel Nelson, Jade Reilly, Maureen Hoey and Mel King.

As Slane Credit Union is owned by its members who all live or work in the area, it is closely involved with local sporting, cultural, charitable and many other groups within the community. Support includes sponsorship of Stackallen Pitch and Putt Club, Cairde (Senior Citizens Organisation), Meals on Wheels, SDVP, Rathkenny Revels, Slane GFC, Slane Wanderers, Active Retirement Groups in the area, Slane Men’s Shed, Slane Community Forum, Slane St. Patrick’s Day Parade, Slane Tidy Towns and Rathkenny GFC.

Slane Credit Union is also actively with several events for the younger members of the community, including its annual poster competition, schools’ table quiz and Credit Union Day.

As a community-based Credit Union with members needs foremost in our decision making, our aim is to deliver a friendly, courteous, quality and complete financial service to our members at all times. We will continue to adapt to the changes and challenges within the Credit Union sector with urgency, innovation and reinvention to meet tomorrow’s challenges.