Clogherhead CU formed in 1968
May 1993
APRIL 29, 1968 was a red letter day in the financial history of the Parish of Clogherhead and Walshestown. On that Sunday morning a dedicated and far seeing group of men, led by the Reverend Noel O’Donnell C.C. (R.I.P.), met in Callystown National School to form Clogherhead Credit Union.
The Credit Union movement in Ireland was in its infancy in those far off days and some had doubts as to its feasibility in Clogherhead.
However, led by the late Monsignor McKevitt of Termonfeckin and encouraged by Father Noel, they decided to give it a try. Success came slowly, but due to the. hard work and dedication of the officers they gradually made progress.
The headquarters in those days was St. Bridget’s Hall at Hackett’s Cross, with sub offices in Walshestown Old School and McDonnells tea rooms in the village.
In order to service the demands for loans, some directors were obliged to make deposits, but this situation soon righted itself and today, twenty five years on, they have over £1,000,000 in assets.
In 1984, they purchased a site on the Main Street in the village and erected a modern office. In 1989 they installed a computer and this certainly made a huge difference to the efficiency of the Credit Union.