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Local credit unions launch new agri loan product

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Six credit unions in the Kerry/Cork region have launched new agri loan product ‘Cultivate’.
The new credit union farm lending offering was officially launched on Wednesday, by IFA National Chairman - Farm Business, Martin Stapleton. It will be available at Killarney Credit Union, Listowel Credit Union and Cara Credit Union in Kerry, as well as Ballincollig Credit Union, Bantry Credit Union and Kanturk Credit Union in Cork.
The credit union farm lending project is modelled on a pilot initiative by four credit unions in Galway, who launched the Cultivate brand in 2017. Since then, 20 credit unions throughout Ireland have introduced the agri loan product to members.
Since its introduction, Cultivate has proved very popular with farmers with nearly €20m in loans issued to farmers. The Cultivate farm loans are for a wide variety of purposes, everything from working capital, cash flow, farm development, livestock purchase, farm machinery purchase, rural enterprise funding, and start up farm finance.
“We are delighted to officially launch the Cultivate agri loan products to credit union members in the Cork and Kerry areas,” Brendan Heneghan, former Regional Manager with Teagasc, and project manager of the Cultivate brand, said.
“We have been working hard on this project for the past number of months. Credit Union agri loan staff have completed a bespoke five-day course on Farm and Finance organised by Teagasc in association with Pallaskenry Agricultural College. Credit unions are now open and ready for business.”
The Cultivate farm loan package will offer loans up to €50,000 for a variety of purposes with a competitive loan rate. The term of the loan can be up to seven years. Loan protection insurance is also provided on the loan at no additional charge.
“We hope that farmers will look to their local credit unions as an alternative for farm finance,” Mark Murphy, CEO, Killarney Credit Union said.
“After all, credit unions are embedded in their local communities and are in a position to lend to those living or working locally. Our loans are unsecured, and we can offer a variety of repayment schedules to suit farmer’s needs.”
Appointments can be made to meet a Cultivate Farm Advisor on 064 6631344 ext. 2 or loans@killarneycu.ie. Further information on Cultivate farm loans is available from any of the credit union branches or on www.cultivate-cu.ie.

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LOCAL GOLD:

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LOCAL GOLD: Terrie O’Shea, founder and owner of Killarney-based business Sorella Berries, celebrating her Gold award win at the Blas na hÉireann Irish Food Awards held in Dingle last week. Her hand-crafted chocolate covered strawberries secured the top spot in national competition, earning recognition for the local food producer on the national stage.

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Grady demands Killarney traffic review

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Killarney councillor Martin Grady has called for an urgent review of traffic management across the town following severe delays along the Muckross Road during the morning rush hour.

Constituents living along Muckross Road, Woodlawn, and outer Muckross areas raised serious concerns with the local representative, reporting that motorists now face delays of over 30 minutes to travel from Flesk Bridge or Woodlawn Cross into Killarney town.


The situation is causing major disruption for parents doing school runs and commuters traveling to work every morning.


“This level of congestion is simply not acceptable,” said Cllr Grady. “I have been contacted by constituents who are experiencing significant delays every morning, with parents trying to get their children to school and people trying to commute into work being caught in traffic for prolonged periods.”


Cllr Grady urged Kerry County Council to look closely at the operation and light sequencing along the route.


“I am calling for a review of the traffic situation along the Muckross Road, including the operation and sequencing of the traffic lights and whether there are any other obstructions or traffic management issues contributing to the delays,” he said.


He stressed that the gridlock is not isolated to one approach road, but affects the entire urban area as population and traffic volumes continue to rise year on year.


“But this issue goes beyond the Muckross Road. Killarney as a whole is experiencing increasing levels of traffic congestion across the town. The people of Killarney have been suffering with traffic for far too long, and the situation is getting worse,” Cllr Grady said.


“Our population is growing and traffic volumes are increasing year on year. We need to look at the bigger picture and develop a proper traffic management plan for Killarney. We need to identify where the problems are, examine how traffic is being managed across the town and put measures in place to improve traffic flow. The current situation has gone beyond what is acceptable for residents, commuters and visitors to Killarney.”

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