Gorey Credit Union has grown from strength to strength over the years
IN March 1966, Gorey Credit Union was formed when interested people came together and had a series of meetings with representatives of the Irish League of Credit Unions and other credit unions. The first board of directors consisted of: president, Roibeard O’Cinnseallaigh; vice president, Peter O’Loughlin; secretary, Willie Kinsella; and hon. treasurer, Tom Kirwan. Other directors appointed were: Mrs Peg Graham; Michael Lacey; Matthew Lacey; Stanley Hempenstall; Sean Donelan; Michael Devereux; Paddy Doyle; Dr PN O’Gorman; Jim Sheehan; Joe Sheehan; Tony Woulfe; and Sean Dwyer was appointed as PRO.
The area of common bond was defined as a three-mile radius from Gorey town. A small room was rented from Gorey Town Commissioners in the Market House, Gorey, and after the first collection on May 20, 1966, the membership stood at 77, with shares totalling £106.
With a growth in membership, they moved to the Parish Hall, Church Street. By year’s end, membership stood at 233 with £3,335 in shares.
In 1969, they purchased the premises at 81 Main Street and 1 Mc Dermott Street, and the bond area was increased to a seven-mile radius. Collections centres were subsequently set up in Ballycanew, Camolin, Monamolin, Coolgreaney and Kilmuckridge, all manned by dedicated voluntary workers who provided a tremendous service to members in these areas, and to whom all at Gorey Credit Union offer a sincere word of thanks.
In 1973, the bond area again broadened to over a ten-mile radius, and was further extended to take in the Kilmuckridge area.
In 1983, Gorey Credit Union appointed its first full time manager, Tom Kirwan, a man of great vision who cherished the ethos of the Credit Union movement. His foresight and dedication saw Gorey Credit Union develop within the community to what has become a major success story.
In 1985, shares topped £2 million and Gorey Credit Union was awarded the Credit Union Cup by the Irish League of Credit Unions for its achievements.
In 1992, total shares approached £6,000,000. No 2, McDermott Street was acquired some years previously, and more office space was provided through the integration of No. 1 and No 2.
In 2008, Gorey Credit Union moved into purpose-built offices also on McDermott Street where it currently operates.
In October 2015, Gorey Credit Union Ltd. completed a transfer of engagements with Avonmore Credit Union Ltd. which was based in Rathdrum, Avoca and Roundwood. With four locations, 47 staff and online technology, Gorey Credit Union is now more available to the public than ever before.
Membership continues to grow at a fast pace, and Gorey Credit Union now has over 27,000 members with assets in excess of €108,000,000. The loan book stands at over €46,000,000. The friendly staff are willing to deal with any queries you may have at any of the four locations, online or over the phone.
Thanks to the contribution of its members past and present, Gorey Credit Union now ranks in the Top 30 in Ireland out of a total of more than 300 credit unions. This demonstrates a great vote of confidence by the people in the areas in both Gorey Credit Union Ltd. and Credit Union movement as a whole.
Built on a solid foundation, which was laid by the first directors and voluntary workers, Gorey Credit Union has continued to grow as a strong financial co-operative, serving as a vehicle that enables people to help themselves. It develops a spirit of self-reliance and helps foster a fruitful and caring community.