Donegal’s largest credit union has announced one of its most successful years to date.
On the eve of its Annual General Meeting, Letterkenny Credit Union has revealed that its total assets are now in excess of €87 million, an increase of €4 million or 4.8% on last year.
The credit union made a surplus of €721,000 fro income earned of €2.45million and remains financially strong.
CEO of Letterkenny Credit Union, Mr Gordon Randles said the credit union concentrates a major proportion of its efforts on providing loans to their members.
He added “In this regard, we are very pleased with our loan book increasing by 30% over the past two financial years.
“It is this growth and developing our lending products which will sustain Letterkenny Credit Union in the future.”
He added that the future holds significant challenges in terms of regulatory requirements and balancing the credit unions business model to best practice and economic efficiency.
Mr Radnles also appealed to any members experiencing difficulties repaying loans to contact their experienced team as soon as possible.
The AGM of Letterkenny Credit Union takes place next Wednesday, December 12th in the Mount Errigal Hotel at 8pm.
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