Brendan Jenkins praises the Credit Union’s ‘enormous success’ as members approved a 1.75 per cent dividend on shares and minor deposits and 25 per cent rebate on eligible loans delivering £2.4m back into the local community.

The President of the Irish League of Credit Unions (ILCU), addressed members and commended the organisation on its ongoing achievements, at is Annual General Meeting on Monday night.

"I want to thank Derry Credit Union for their warm invitation to the city and praise the enormous success they have achieved, while wishing them continued prosperity for years to come,” said Mr. Jenkins.

He also paid tribute to Patricia Doherty for her dual service as a Director of Derry Credit Union and as Vice President of the ILCU Board.

The new Chief Executive Officer of Derry Credit Union, Mr. Kevin McCauley (front centre) pictured at Monday's AGM, with front from left, Kerri Pyne, Delma Boggs, President, DCU, Brendan Jenkins, President, ILGU and Geraldine O'Doherty. Back from left, Sean Quigley, Sinead Bell, Sharon Doherty, Karen Doran, Clare McLaughlin, Owen McGeehan and Ciaran McCormick. (Photos: Jim McCafferty Photography)

placeholder image — The new Chief Executive Officer of Derry Credit Union, Mr. Kevin McCauley (front centre) pictured at Monday's AGM, with front from left, Kerri Pyne, Delma Boggs, President, DCU, Brendan Jenkins, President, ILGU and Geraldine O'Doherty. Back from left, Sean Quigley, Sinead Bell, Sharon Doherty, Karen Doran, Clare McLaughlin, Owen McGeehan and Ciaran McCormick. (Photos: Jim McCafferty Photography)

Reflecting on the historic ties between Derry and his hometown credit union, Mr. Jenkins added: "It is a privilege to have shared a friendship between Clones Credit Union and Derry Credit Union since 1960, established through Fr. Paddy Gallagher, the first president of the ILCU, and the late John Hume, the second president. I wear the chain of office with great pride knowing both of those names are engraved upon it.”

The evening also marked a significant leadership transition. Mr. Jenkins extended best wishes for a long and happy retirement to former CEO Joan Gallagher, while offering best wishes to current CEO Kevin McCauley.

Tributes were also paid by the President, Delma Boggs to staff members Christine McCartney and Linda Parke on their recent retirements after many years of dedicated service. She also noted the sad passing of former Derry Credit Union director Aidan Gallagher offering condolences to his wife Kathleen, children, grandchildren and extended family.

Members gathered at St. Mary’s College on Monday as Derry Credit Union Limited, the largest and oldest credit union in the North marked another year of strong performance and community impact at its 66th Annual General Meeting.

Members casting votes at Monday's Annual General Meeting of Derry Credit Union. (Photos: Jim McCafferty Photography)

Directors and volunteers presented the Annual Report and Financial Statements for the financial year ended September 30, 2026, highlighting key developments and milestones achieved over the past twelve months.

Members voted to approve the following financial distributions:

Member Returns:

Approval of a 1.75% dividend on shares;

A return on minors’ deposits of 1.75%; and

An interest rate rebate of 25% on eligible loans.

These figures equate to a return of over £2.4million back into the local community.

Members also approved a £17,500 donation to the ILCU International Development Foundation, supporting its mission to bring financial inclusion to underserved communities worldwide.

The Derry institution was famously founded by John Hume, Seamus Bonner, George Coyle, Paddy Joe Doherty, Paddy ‘Bogside’ Doherty and Eileen Doherty who, all in their twenties, decided to introduce financial co-operativism into Derry 66 years ago.

The Derry Credit Union was the first of its kind in the North. In Ireland it was predated only by the Donore Credit Union in Dublin (founded 1958), and the Clones Credit Union (founded 1959).