Delight as Derry Credit Union wins 2 Social Enterprise NI Awards

The new awards were for Best Credit Union (assets over £25 million) and Community Wealth Building .

The Social Enterprise awards celebrate the work and impact of social enterprises and highlight the active role that they play in building places, supporting communities, and making a positive impact on the environment and wellbeing. The winners were announced on Friday, October 27.

Derry Credit Union won the accolades after demonstrating its links to the community, its economic and social impact, and its benefits to both members and the wider community,.

It was also honoured for its development of staff and volunteers, its use of IT and social media services, the breadth of its services offered in the best interest of the member, and its wider impact within the social enterprise sector.

Speaking at the ceremony, Joan Gallagher, Derry Credit Union CEO, said: “While we at Derry Credit Union are aware of the positive social and economic impact we make on our members’ lives each day, it is wonderful to receive recognition from the social enterprise sector of the good work we do.

"The social enterprise sector is crucial to the development and wellbeing of our communities, and we are grateful for the opportunity to play our part.

"Our members were gifted what is one of the most successful credit unions in Ireland. We enjoy the benefits of credit union membership and share those benefits by supporting local businesses and groups in the wider community.

"It is our intention as members, staff and volunteers of Derry Credit Union to continue to enhance and develop our credit union. In this way, we can ensure that Derry Credit Union will continue to offer such benefits to the next generations and continue to play a part in the wider social economy.”

The largest credit union in N. Ireland, by November 2022 Derry Credit Union reported a membership of 35,339 adults and 5,107 minor savers, and it continues to grow with assets reaching £114 million.

It also emerged in November that Derry Credit Union members were able to benefit from a pay-out of over £1m in dividends and interest rebates after a dividend of 0.4% and interest rate rebate on applicable loans of 25% was agreed upon.