Another successful year recorded for Derry Credit Union

Secretary and Director Patricia Doherty presented the Board of Directors report, highlighting DCU’s two shares’ facilities, ten loan products – including three new loans with maximum borrowing limits of £40,000 – and three insurance covers.

She also noted the role of Derry Credit Union in the sector locally, nationally and internationally.

Recent retirees Michael Gallagher and Mary Tierney were thanked for their service, while the positive impact and work of CEO Joan Gallagher, who retires this month after 27 years, was recognised, as was the work of Education and Training Officer, Mary Crumley, who also retires at the same time after 23 years.

Finance Committee member Kevin McCauley presented the Treasurer’s report.

A surplus of £2,699,686 was achieved from the credit union’s core operations, providing for a dividend of 1.75%, loan interest rebate on eligible loans of 25%, and a return on minors’ deposits of 1.75%.

Kevin reminded members that Derry Credit Union would be open Wednesday, November 12, for the withdrawal of dividend and interest rebate payments only, and that members could withdraw these any time after Wednesday.

Five members of the audience received spot prizes of £50 vouchers for local butchers and the Derry Credit Union Youth Committee conducted the prize draw for 26 prizes totaling £3500.