Credit Union AGM
Pat Stafford was elected Chairman of Kilcullen Credit Union at that organisation's recent AGM.
In his report for the year, outgoing Chairman Jim Barker noted that Shares and Deposits had increased by 21 percent in the first full year since the Credit Union moved into its new premises, "Loans also increased, by more than 11 percent," he added. "This growth and progress could not have been achieved without the application of a cooperative team spirit between the volunteers, staff, and you the members."
The financial state of the organisation is reflected in an income for the year ended 30 September 2005 of €385,572, an expenditure of €214,960, and a dividend of 1.5 percent to members of €64,426. The undistributed surplus is €61,289.
Shares and Deposits stood at €4,917,463 and Loans outstanding were €3,263,876.
"We had hoped this year to reward our borrowers with an interest rebate," Jim Barker said. "But a note from our Auditors reminded us that we are 'sitting in' our rebate."
(That last was not quite correct, as the meeting took place in the Parish Centre ... but the reference to the new CU building was clear.)
Arthur Duffy and Pat Clarke of the Membership Committee reported that a total of 340 applicants for membership were approved during the financial year, bringing to 2,026 the current membership. Some 76 members transferred from other Credit Unions and 104 of the new members are Juveniles. An analysis of membership showed that more than 47 percent of members have loan balances.
During the year Kilcullen Credit Union gave sponsorship to the Lions Club, the Parish Golf Classic and the League of the Blind as well as a number of other causes. In addition, as part of its ongoing sponsorship of the Community Games, a set of tracksuits was presented to the local committee of the games, which resulted in the Kilcullen team receiving the 'Best Turned Out' award at the County Finals.
Those attending the AGM were included in a Christmas Draw for hampers, vouchers and wine. The winners were Andy O'Neill, Ber Coleman, Kathleen Berven, Liz O'Brien, Pat Stafford, Mary Domican, Pauline Connors, Kay Dixon, Noreen Lynch, Christy Crigjin, Ann Keogh, Owen Cooney, Colm O'Brien, Mark Kelly and Conor McNally.
Brian Byrne.
