Michael Evans, Athlone Credit Union CEO.

Athlone Credit Union lent €13m in 2022

Athlone Credit Union Ltd is reporting its 2022 year-end results which remain steady, despite the continued economic challenges.

The credit union has provided €13 million in loans to the local community over the past year. Membership has grown by 5% in the year and savings have increased by €2.1 million.

Athlone Credit Union says it continues to work hard in order to ensure that its valued members are receiving the best service possible.

Michael Evans, CEO from Athlone Credit Union said: "Athlone Credit Union continued to be there for its members during 2022, albeit in a very challenging economic environment.

“With the withdrawal of KBC and Ulster Bank from the Irish banking landscape there is a clear path for credit unions to grow as a key provider of community banking in the country. Athlone Credit Union remain committed to our local community and are well placed to provide a range of banking services to members.”

“The cost-of-living crisis had become more and more prevalent in recent months; Athlone Credit Union remains a vital and accessible provider of affordable and ethical financial services for our members in Athlone. We remain rooted in our local community and wish to remind people that we are here to help with their personal financial needs. “

Michael Evans continued: “Athlone Credit Union has continued to serve its members and our focus throughout the year has been to continue to work in a way that best works for our members.

"In 2022 we launched our new current account and debit card, offering everything you could want from your current account. We also launched a host of green loan products such as Greenify which offers a discounted loan rate for any green home energy upgrades or retrofits and our 'Go Green' Car Loan which offers a discounted rate for the purchase of an EV, hybrid vehicle or green alternative to petrol or diesel models. We know our members value the face to face service we provide.”

“Our focus for 2023 will be to continue to work in a way that best serves our members, for that reason we are pleased to advise that the Boards of Directors of Athlone Credit Union Limited and Castlerea and District Credit Union Limited are in a position to ask our members to approve the transfer of engagements, of Castlerea and District Credit Union Limited to Athlone Credit Union Limited. The Combined Credit Union will be known as Athlone and Castlerea Credit Union Limited."

The Special Resolutions to approve the Transfer of Engagements will be voted on at the Annual General Meetings on January 23.

"The proposed merger between Athlone Credit Union & Castlerea and District Credit Union arises from the belief of the Board of Directors of both credit unions that our members can be better served together and we consider it an ideal opportunity to grow and develop our services to members locally.

The boards of both Credit Unions are confident that our decision to combine our credit unions will strengthen our position to be the most trusted, respected and preferred financial services provider for our members, providing good value, modern, accessible and tailored services," Mr Evans aid.

Athlone Credit Union’s AGM will take place virtually via Zoom in on Monday, January 23 at 7pm.