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THE Fintona Credit Union is ‘continuing to grow’, members were told recently at the organisation’s annual general meeting.
Addressing those gathered at the AGM, the chairman of the local credit union, Joe Slevin, reported on how they had been doing over the past year.
He highlighted the fact that once again this year, Fintona Credit Union was providing free Death Benefit Insurance to all members who had joined the organisation before the age of 70, and that it is one of the few credit unions providing this insurance free to its members.
“With 3,566 adult members, 764 junior members, total savings of almost £11 million and £4.2 million out on loan to members, Fintona Credit Union is continuing to grow,” said Mr Slevin.
The Treasurer, Aisling Mullan, highlighted some key figures from the audited financial statements, including shares increasing by almost a quarter of a million pounds; loans to members currently at £4.2 million; over half a million pounds received in interest from members’ loans; and £35,000 recouped from bad debts.
Reporting for the Loans Committee, John Murray said that the committee had processed almost 700 loan applications, resulting in just over two million pounds being loaned out.
The committee had considered and approved a loan of £29,600, the largest ever loan in the history of Fintona Credit Union. He emphasised that the Loans Committee are just as happy approving small loans, the smallest of which was £100.
The meeting further heard about the work of the Credit Control Committee. This year four directors and five staff members were involved in credit control and debt recovery. As a result, over £35,000 of bad debt had been recouped from ‘old’ loans, a substantial increase from the previous year.
John Murray highlighted a number of ways in which the credit union continues to get their message out to people, including the Primary Schools Quiz, the Credit Union calendar, the Children’s Colouring Competition, and Primary Schools Savings Scheme.
Kevin Kearney from Gravitas Compliance Limited presented his internal audit report to the meeting. He reported that audits undertaken during the year had not given rise to any concerns and confirmed that Fintona Credit Union was being managed and governed effectively.
This brought the formal proceedings of the evening to a close and the popular free draw then took place before light refreshments were served.
Anyone wanting a copy of the annual report can pick one up in the credit union office. The 2026 Fintona Credit Union calendar is now also available in the branch.
