Youghal Credit Union Summer Car Draw 2011 – Winner Joanne Lyons

YOUGHAL CREDIT UNION Summer car draw took place last Saturday (13th Aug. 2011) at 11.00 a.m.  The lucky winner of the new Kia Ria supplied from Pat Ryan, Kia Motors, Youghal is Joanne Lyons from Ballinvarrig lower.
2nd Prize Winner is Ann Darcy from Stradbally, Co. Waterford who is the lucky winner of the Royal Caribbean cruise courtesy of MacDonald Travel Agency, North main Street, Youghal. Entry to the draw costs just €6.00.

YOUGHAL CREDIT UNION LTD is a financial co-operative owned and controlled by our members, for the benefit of our members and the community.Consistent with the principles, philosophy and values of the credit union movement, Youghal Credit Union provides safe, superior, financial services in a friendly and professional manner with respect for the worth and dignity of all our members.We aim to meet the needs of our member-owners, enhancing their lives and financial well-being while maintaining the strength of the credit union. We thrive in an environment of trust, respect, integrity and honesty.

€500 Winners
David Morrissey from Ladysbridge
Denis McCarthy from Fanisk Bridge

 

 

On Tuesday the 24th of May, the Pobalscoil na Tríonóide School credit union held their summer saving bonanza. Each saver on the day relieved a prize. This promotion was very successful and there was a great turnout. There was also a saver of the year prize which was awarded to Edward O’ Regan. Edward has been a consistent saver with the school credit union all year. This was the last day of the school credit union for the year 2010/2011, and for it’s team members Luke McCarthy, Sorcha Keniry, Becky Fitzgerald, Nicole Hehir and Kelly O’ Sullivan. The school credit union has been a success during the year, and it’s team members would like to thank each person who saved with them during the year.

 

The Youghal Daffodil Day committee, volunteers and sellers are holding their annual fundraiser today in aid of the Irish Cancer Society with street stalls in the town selling fresh and silk daffodils, cards, shopping bags etc. Daffodil Day stalls are all over town and you may make a donation and or buy a raffle ticket at locations near the Post Office, Crowley’s Garage, Credit Union, Rivergate Mall, Merricks, Super Valu, Tesco and Costcutters. Helen Mulcahy from Youghal said she brought her children Ciarán and Muireann  specially to town today (March 25th 2011) to buy her daffodil flowers and raffle ticket as she does every year to support this charity. Please support this worthy cause.
Photo: Michael Hussey www.youghalonline.com

Thanks for being our hero!

Daffodil Day was proudly supported by Dell

A huge thank you to everyone who came out to support us on Daffodil Day Friday 25th March!

Whether you took to the streets and sold Daffodil Day merchandise or bought some on the day, please know we simply could not do it without you.

Every daffodil, keyring or pin sold allows the Irish Cancer Society to continue to provide its free nationwide cancer information and patient care services.

We hope you had a great Daffodil Day in your community and would love to hear about your successes! Please email photographs from your day to webmaster@irishcancer.ie and we will include them on our website. Don’t forget to caption your photos from left to right so we can properly identify you and all your helpers.

You can also enter our exciting Daffodil Day Photo Competition by posting your photos of Daffodils taking over the world to our Daffodil Day Campaign event page on Facebook. The person with the winning photo will win a 2 night break in any Carlton hotel around Ireland – the wackier the better! Closing date is March 31st 2011.

And, if you didn’t have an opportunity to support us you still can, visit www.gardenofhope.ie our online Garden of Hope, where you make a donation online and leave a message for a loved one touched by cancer.

Thank you for your continued support!

The Daffodil Day Team,
Irish Cancer Society

Youghal Credit Union Ltd. held its AGM in the Walter Raleigh hotel on Tuesday November 23rd. The well attended meeting heard of the successful Youghal Credit Union had in the previous year. Pic: www.youghalonline.com

The Chairperson, John Colbert, reported to members that the credit union had 14,000 account holders who held a total of €70 million in savings and borrowings of €41 million. Youghal Credit Union Ltd. is “safe, strong and secure” he commented.

Overall the level of savings and loans was comparable to last year. The total income received by the Credit Union marginally increased from last year’s figure. The total of loans granted did, however, drop from €15.9 million in 2009 to €13.9 million in 2010. The decrease represented a more cautious attitude by members to borrowing in the current economic climate. The Chairperson noted that the borrowings hopefully added to the growth of the local economy. He also mentioned the involvement of the Credit Union in being a major partner in funding the local enterprise centre.

The Chairperson reported that credit control was becoming a major issue with the current levels of unemployment and the general downturn in the economy. As a prudent measure the Credit Union has increased the provision for bad and doubtful debts by €1.3 million in line with the Regulator’s recommendation. He urged members who face difficulties to contact the Credit Union immediately. In light of the large provision for bad and doubtful debts the remainder of the year’s surplus was used to increase other reserves. A dividend of 075% was proposed along with an interest rebate of 10% on interest paid last year.

The Treasurer, Karl Flavin, read through the accounts and was pleased to announce that Youghal Credit Union Ltd. recorded a surplus of €1.29 million for the past year. Other highlights reported by the Treasurer included loan interest income of €3.4 million and investment income received amounting to €1.75 million which represented a 7% increase on 2009.Bad debts written off increased to €679,000.  The Treasurer reiterated that these written off loans are vigorously pursued.

Following on from the treasurer’s report all the various committees reported on their activities during the past year. The guest speaker was Declan Gibbons from CRY who outlined their programme for the coming year. Declan thanked Youghal Credit Union Ltd. for their continued financial support for CRY over the years.  A draw was held for members in attendance and the prizes comprised of a number of Youghal Chamber shopping vouchers for local shops.

Youghal Credit Union Winter car draw took place last  Saturday (27th Feb. 2010) at 11.00 a.m.  The lucky winner is Joan Hopkins from Radharc Na Mara, Ballyvergan, Youghal. Joan is the proud owner of  the new Kia Ria 1.5 lx diesel 4 door which is supplied by Kia motors, Youghal.
Entry to the draw costs just €6.00.
Photo: Michael Hussey YoughalOnline.com  Email: news@youghalonline.com

Youghal Credit Union Ltd is a financial co-operative owned and controlled by our members, for the benefit of our members and the community.

Consistent with the principles, philosophy and values of the credit union movement, Youghal Credit Union provides safe, superior, financial services in a friendly and professional manner with respect for the worth and dignity of all our members.

We aim to meet the needs of our member-owners, enhancing their lives and financial well-being while maintaining the strength of the credit union. We thrive in an environment of trust, respect, integrity and honesty.

Serving the community – Building lifelong relationships – One member at a time.

Youghal Credit Union Winter car draw which will take place this  Saturday Feb. 27th 2010 at 11.00 a.m. in the main office of Youghal Credit Union. The lucky winner will be the proud owner of  the new Kia Ria 1.5 lx diesel 4 door which is supplied by Kia motors, Youghal.
Entry to the draw costs €6.00 which will be deducted from a members credit union account. If you have not entered the draw you have a few days remaining to do so.
Photo: Michael Hussey YoughalOnline.com

Pictured below are some of the lucky winners in the Youghal Credit Union 2009 Car Draw. It could be you! So make sure your entry for the draw is in before Saturday Feb. 27th 2010

Youghal Credit Union Ltd is a financial co-operative owned and controlled by our members, for the benefit of our members and the community. Consistent with the principles, philosophy and values of the credit union movement, Youghal Credit Union provides safe, superior, financial services in a friendly and professional manner with respect for the worth and dignity of all our members. We aim to meet the needs of our member-owners, enhancing their lives and financial well-being while maintaining the strength of the credit union. We thrive in an environment of trust, respect, integrity and honesty.

Serving the community – Building lifelong relationships – One member at a time.

The AGM of Youghal Credit Union was held in the Walter Raleigh Hotel on Tuesday November 24th. The large attendance heard the results of the previous year which according to Mr. Peter O’ Donnell , Chairperson, proved very well despite the economic climate. Members approved a dividend of 1.5% on savings. A loan interest rebate of 12.5% for members who were borrowers during the year was also approved. The remainder of the surplus of €2.9 million was used to build up the reserves of the credit union and ensure it’s financial safety and soundness for future years.

The Chairperson noted that whilst lending was down on previous years the credit union is still open for the business of serving the local community. Savings were reduced by €1 million which reflected the current economic climate. During the year some investment bonds underperformed but they recovered later on in the year. Most of these bonds have now been encashed and placed on deposit which will reduce investment exposure.

The AGM  also heard of the new range of services that were introduced during the current year. A new website, youghalcu.ie, was launched which allows members access to their account information. An ATM was launched during the course of the year allowing members full time access to their savings. A further range of electronic services are expected to be launched during the coming year. The car draw, which proved so successful, is due to continue with the next draw due in the New Year.

On Thursday October 15th, credit union members around the world  celebrate International Credit Union Day, an event designed to commemorate the credit union movement’s history and achievements. In honour of this special day, Youghal Credit Union Limited invited the community to an open day in the main office which included light beverages and other treats.
Photo: Michael Hussey www.youghalonline.com Email news@youghalonline.com

Credit unions are not-for-profit financial cooperatives that provide an effective and viable alternative to for-profit financial institutions for more than 186 million members in 97 countries worldwide. They exist to serve their members, providing a safe place to save money and access affordable loans.
Youghal Credit Union Limited has over €80 million in assets with shares amounting to €70.8 million and loans outstanding of €40.8 million. Youghal Credit Union Limited has sub offices in Killeagh and Ardmore and services approximately 12,000 members.

Since 1948, International Credit Union Day has been celebrated annually on the third Thursday of October. Each year, the international event affords the opportunity to remember credit unions’ proud history and promote awareness of and support for the credit union difference. This year’s theme –Your Money. Your Choice. Your Credit Union – underlines the credit union and cooperative spirit, emphasizing value, trust and service to members.

This year has seen Youghal Credit Union Limited invest in the local community by lending €16 million to members. We believe that most of that money was spent locally and generated business for the local economy. Youghal Credit Union Limited was also a major contributor to the local enterprise centre which has recently been established to generate local sustainable employment.

Credit unions are not-for-profit financial co-operatives that provide an effective and viable alternative to for-profit financial institutions for more than 2.9 million members on the island of Ireland. They are member-owned and exist to provide a safe place to save money and access affordable loans. Currently Youghal Credit Union Limited offers a fixed Home Loan rate of 6% which has certain terms and conditions that apply. In the past number of years Youghal Credit Union Limited has also paid a loan interest rebate to members which further reduces the cost of borrowing.

CREDIT UNIONS UNDERSTAND MEMBERS’ NEEDS

According to Kieron Brennan CEO of the Irish League of Credit Unions.
“Credit unions are based in the heart of local communities and have a real understanding of the needs of their members. In these uncertain times, more and more people are turning to credit unions as they become disillusioned with other financial providers. Credit unions are all about people. They exist to serve members, not to profit from their needs“.

The ILCU represents 103 Credit Unions in Northern Ireland, with almost 380,000 members, and assets of £885 million.

Earlier this year, credit unions in Ireland announced a new association with Irish international rugby player Brian O’Driscoll. Over the coming year Brian will be working with the Irish League of Credit Unions to promote both credit unions and credit union initiatives.  This association will seek to highlight the very significant contribution that credit unions make in local communities at every level.

Commenting on the announcement Brian O Driscoll said “I am delighted to have become involved with the credit union movement at this time. I believe it is an important time for our communities and I have always greatly admired the valuable role that credit unions have played in fostering a sense of belonging and team work”.

The Irish Credit Union movement is among the most successful in the world with the highest membership per capita. Started in 1958 by 3 pioneers, Nora Herlihy, Séamus P Mac Eoin and Sean Forde, the Irish Credit Union movement has steadily expanded its services to meet the changing needs of members over the past fifty one years.

For more information about Youghal Credit Union Limited events, visit  youghalcu.ie or contact info @youghalcu.ie. The main phone number is 024 92325.

Knockanore’s success in building a top quality indoor sports hall continues apace with a donation from Tallow Credit Union marking its initiative. Credit union representatives travelled to Knockanore last weekend to hand over a €2,000 cheque to members of the KGK (Knockanore-Glandine-Kilwatermoy) Sports Committee. Report Christy Parker

Costing €600,000, the hall, adjacent to Knockanore national school, evolved from an aspiration five years ago. Assisted by funding from the National Lottery and Clar, the plan reached fruition when builders Aqualine Ltd., Cappoquin completed construction in Sept 2008, although it was officially opened by MEP Brian Crowley last May. “Phase 1 involved construction, was landscaping, paining and kitting it out to a certain degree,” says KGK Community Sport chairman Mike O’Neill.

School students, local sports bodies and women’s groups have been using the facility for a variety of purposes, including indoor hurling, soccer and general training as well as ladies’ PE classes. Now, Phase 2, with further funding from Waterford Leader Partnership, promises to extend its remit considerably. “We intend to acquire a stage, seating, lighting bar, etc. to make it amenable for drama and the arts,” say Michael. “We’d also hope though that other sports groups, such as volleyball and basketball organisations from within and outside the parish avail of it,” he adds of what he described as “a hall that’s paid for.”

Tallow Credit Union.

At the recent ceremony, Michel acknowledged Tallow Credit Union’s “unwavering commitment and assistance to the communities in its common bond area and thanked them for this most recent donation.

For her part, Tallow Credit Union’s spokeswoman Angela Leahy said it was “an honour and a pleasure to return the compliment to the Knockanore community, who have always supported us.” She added that her organisation was committed to a three-year sponsorship programme and, having “contributed over €250,00 to local groups over the past three years, we want to reassure communities that we are here for them.”

In a brief summary, Angela outlined further enhancements in a credit union that is “going from strength to strength.” She spoke of extended opening hours to include lunch times and the recently launched Credit Union ATM Card. Which “is proving particularly popular with younger people and students.” A new scholarship scheme is imminent for 2010/11, which should alleviate problems associated with the Third Level fees atrocities!

It need hardly be mentioned that Tallow Credit Union, in its 31st year, 300 members, €9,523 in shares and assets of over €19m, continues to provide a wide range of financial services for a particularly rural community. These include lending schemes based on car, baby and farmer requirements –not that all three don’t occur simultaneously either.

Inquiries regarding Knockanore hall: 087- 9675399 (voluntary line -open 7pm—9pm, text messages all other times).

Tallow Credit Union: (058) 56289; www.tallowcu.ie

The winner of the second car draw for 2009 in Youghal Credit Union Ltd. is Mrs. Betty Hennessy,Youghal. The draw was held in the main Credit Union office and was officiated over by Peter O’ Donnell, Chairman, Youghal Credit Union Ltd., Mayor of Youghal Mrs Sandra McLellan and Mr Tommy Collins of Community Radio Youghal. Photo: Michael Hussey www.youghalonline.com

To enter the draw members must sign a new authorisation for to pay for the €6 per draw. The draw will be held every six months with the next draw due in January 2010 for a new Car. It is important to bear in mind that members who signed for the original draws last year will only be included in future draws if the have signed a new authorisation form. The new authorisation forms are available at all our Credit union offices in Youghal, Killeagh