Pos­i­tive out­look for 2019 at Al­tura Credit Union

Wicklow People (Arklow) - - NEWS -

Al­tura Credit Union will straighten its po­si­tion in the mar­ket this year, ac­cord­ing to Pres­i­dent An­drew Cullen at the an­nual gen­eral meet­ing.

It was re­ported at the meet­ing that Al­tura Credit Union will open a ‘new Rath­drum premises in early 2019’ that will fur­ther show their com­mit­ment to the branch of­fice net­work. They were also de­lighted to wel­come the for­mer Carnew Credit Union and its mem­bers to Al­tura af­ter its tran­si­tion in Septem­ber last year.

Lend­ing at Al­tura Credit Union has slightly in­creased since 2017 from €53,228,423 to €59,274,598 at the end of 2018, while mem­bers sav­ings to­tal has gone up from €103,797,677 to €128,094,054.

Mr Cullen rec­om­mended a div­i­dend of 0.25 per cent and a loan in­ter­est re­bate of 10 per cent on the stan­dard rate loan, which is the same as last year.

The mem­ber­ship com­mit­tee re­ported a growth dur­ing their fi­nan­cial year and mem­bers have in­creased by 4,063 bring­ing the to­tal mem­ber­ship of Al­tura Credit Union at year end to 32,005. This in­cludes mem­bers brought over dur­ing the suc­cess­ful Trans­fer of En­gage­ment with Carnew Credit Union.

Mr Cullen said: ‘2018 has proven to be an­other chal­leng­ing year for the Credit Union move­ment – not so much re­lated to the fi­nan­cial cri­sis of a few years back but more so the fact it is be­com­ing ob­vi­ous that Credit Unions must re­visit how we con­duct our busi­ness to re­main rel­e­vant and vi­able in the years ahead.’

At the end of his ad­dress, Mr Cullen re­quested all to think of Peter Finn who sadly passed away last De­cem­ber. As a sit­ting Di­rec­tor, Peter gave over 39 years ser­vice to the Credit Union and will al­ways be fondly re­mem­bered and greatly missed.

Al­tura Credit Union com­mon-bond area now stretches from south Bray, all the way down past Cur­r­a­cloe in Wex­ford.

Newspapers in English

Newspapers from Ireland

© PressReader. All rights reserved.