British Credit Union Historical Society

          Promoting Unity-Preserving the Past-Educating the Present-Enriching the Future

Dungannon Credit Union Limited
Was founded in 1964. Initial steps for starting the CU in Dungannon were made by Rev Francis Mac Larnon then Principal of St Patrick's Secondary School. He was aware that many of the people in the area were experiencing financial hardship.

The first committee: Rev F.McLarnon D.D (President), Patricia McCluskey , Michael McGrath (Treasurer), Dermot Fox (Secretary), James Kelly, Patrick Fox, Harry McGuuigan, Thomas McCall, Patrick McCooey, Donagh Begley.

First Supervisors: Kathleen O'Brien, Patrick Keenan, Peter Wright

First meetings in St Patrick's Hall; then premises rented in Anne St.

1965 Premises rented in Irish Street.

1966 Michael McGrath attended the first seminar run by the CU for directors. 5days in Gormanstown Co Meath. John Hume was National President at the time.

1970 Purchased our own premises in Irish Street for £12,000.

1994 Opened our present office in William Street.

The Credit Union has its own modern well-equipped premises in William Street with over 8,000 members, over £15.9 million in savings and over £5.9 million out in loans. Our minors (under sixteen years of age) have almost £800,000 in savings.

In forty years members have borrowed and repaid over £40 million. Members have received almost £2.5 million in dividends. Members have received over £0.5 million in interest rebate (only started in 1999).

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Membership

Savings

Loans Issued

Net Assets

1964

 

£1,824

£1,776

 

1974

 

£129,823

£119,684

£136,782

1984

1302

£506,401

£424,050

£568,543

1994

2505

£1,993,115

£1,904,607

£2,499,648

2005+

Over 6000

Over £10 million

Over £7 million

Over £11 million

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