BACK IN THE BLACK!  – AGM SIGNALS BRIGHT FUTURE FOR CLONES CREDIT UNION

12 March 2015 No Comments by The Northern Standard

By Cianna McNally

“Now that our deficit has been eliminated we see the future of Clones Credit Union as secure. We now look at how we can improve our services to you, the members.”

So said President of Clones Credit Union Brendan Carolan at the 55th AGM which took place in the Creighton Hotel, Clones last Wednesday evening. The fact that the facility is back in the black for the first time since 2009 was something that was warmly welcomed by a number of speakers at the AGM, where the mood overall was upbeat. Speakers included Martin Sisk, President of the Irish League of Credit Unions.

During the report from Clones Credit Union’s Board of Directors, Mr Carolan stated that the deficit which stood at €7.8 million at the end of 2010 and €1.2 million last year had been wiped out. The Credit Union carried forward a credit balance of €45,000.

Mr Carolan described the facility as being in a strong position and for the first time since 2009 it was able to recommend a dividend of 0.25% for …

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